(MENAFN- Kuwait News Agency (KUNA)) NEW DELHI, Oct 14 (KUNA) -- India and Saudi Arabia on Tuesday explored ways of advancing bilateral cooperation in the textile sector.
A statement from the Indian Ministry of Textiles said that a Saudi high-level delegation, led by Vice Minister of Industry and Mineral Resources Khalil bin Salamah, met with the Secretary of the Indian Ministry of Textiles in New Delhi to explore deeper bilateral cooperation, marking a significant step forward in reinforcing trade and investment ties between the two nations.
"India and Saudi Arabia reaffirmed their robust economic relationship, with bilateral trade reaching USD 41.88 billion in FY 2024-25.
"India emerged as the second-largest supplier to Saudi Arabia's textile and apparel sector, capturing an 11.2% share of Saudi Arabia's total textile and apparel imports in 2024," the statement said.
The meeting also highlighted key opportunities for Saudi investment in India's ready-made garments sector; a key area for employment generation and exports. With a shared vision for mutual growth, both parties discussed strategies to expand production capacities and market reach through collaborative efforts in textile manufacturing and trade, it noted.
Discussions also torched upon the importance of promoting sustainability across traditional sectors such as handloom, handicrafts, and carpets. These sectors not only represent India's rich cultural and artisanal heritage, but also resonate with global consumer preferences for eco-friendly and ethically produced goods, concluded the statement. (end)
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