The plethora of deals and the strategic focus on non-oil sectors could represent a turning point in addressing trade imbalance, while simultaneously providing a tailwind for Indian-listed companies seeking to expand their horizons in the Middle East
The Crown Prince and Prime Minister of the Kingdom of Saudi Arabia His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud paid a State visit to India on September 11, 2023 at the invitation of Prime Minister of the Republic of India Shri Narendra Modi.
India and Saudi Arabia on Sept 11 praised the bilateral burgeoning trade ties and noted that it has increased to more than $52 billion in 2022-23, marking a growth of more than 23%. Both sides also noted that India is the second largest trade partner of Saudi Arabia, while Saudi Arabia is the fourth largest trade partner of India and thus agreed to enhance bilateral cooperation in the area of trade remedies.
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