Saudi Arabia & India Boost Economic Ties By Signing of 50+ Agreements

Saudi Arabia and India signed a number of agreements to boost their economic ties. The agreements cover a wide range of sectors, including information technology, entrepreneurship, chemicals, energy, and advanced manufacturing. The agreements were signed during the India-Saudi Investment Forum in New Delhi, which was held on the sidelines of the G20 summit.

“Further to the agreements signed today, the Ministry of Investment of Saudi Arabia is in the process of opening a country office in India to streamline the process for Indian companies to invest in Saudi Arabia, while the establishment of an agreement between both nations is underway to build a bridge for venture capital and funding for start-ups,” the ministry said.

Al Jomaih Energy and Water and Avaada Energy signed an initial deal to collaborate on the engineering, construction, and procurement of solar, wind, hybrid, and battery energy storage solutions projects in the Middle East.

Petromin and HPCL also signed a definitive agreement to establish Petromin Express service centers in HPCL-operated fuel stations across India.

Desert Technologies and Goldi Solar signed a preliminary agreement to cooperate in energy technology.