(MENAFN- KNN India) New Delhi, Oct 15 (KNN) A bilateral meeting was held between the Department of Chemicals and Petrochemicals (DCPC), Government of India, and the Ministry of Industry and Minerals, Kingdom of Saudi Arabia, to enhance collaboration in the chemicals and petrochemicals sector.

Saudi Arabia is India's fourth-largest trading partner, while India ranks as Saudi Arabia's second-largest trade partner. Bilateral trade between the two nations stood at USD 41.88 billion in 2024–25, with chemicals and petrochemicals contributing about 10 percent (nearly USD 4.5 billion).

Discussions during the meeting centred on expanding bilateral cooperation, promoting investments, and exploring new areas of collaboration across the chemicals and petrochemicals value chain.

The Indian delegation was led by Nivedita Shukla Verma, Secretary, DCPC, while the Saudi delegation was headed by Khalil bin Ibrahim bin Salamah, Vice Minister, Industry and Minerals.

Both sides recognised the complementarities between their respective industries - with Saudi Arabia's strength in petrochemicals and India's expertise in speciality chemicals - and agreed to harness this synergy through enhanced cooperation.

The two sides also discussed investment opportunities in India's Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) and potential partnerships between major companies from both countries.

In addition, the delegations agreed to collaborate in research and development (R&D) and skill development initiatives to support innovation and capacity building in the sector.

Both India and Saudi Arabia reaffirmed their commitment to building a sustainable and mutually beneficial partnership in the chemicals and petrochemicals sector.

(KNN Bureau)

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