Saudi Vision 2030 boosts India ties in industry and mining sector

Photo : SPA

Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, said that Saudi Vision 2030 is creating new chances for a strong partnership between Saudi Arabia and India in industry and mining. He spoke about the deep friendship between the two countries and how their leaders fully support this growing relationship. He believes this will bring many good opportunities for both nations in the future.

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In a meeting held in Mumbai with the Confederation of Indian Industry (CII), many big Indian companies from the industry and mining sectors came together to talk about business. Alkhorayef said that the Saudi-Indian Business Council is working hard to make business ties stronger between both countries. He believes that India and Saudi Arabia can work together in many areas and gain great benefits.

He gave the example of the car industry. Saudi Arabia wants to start making cars in its own country because it is one of the biggest buyers of cars. Last year, Saudi Arabia bought around 700,000 cars from other countries, and soon this number may reach more than 1 million. The country has already given permission to three car-making companies, and the goal is to make 300,000 cars every year by 2030. To do this, Saudi Arabia needs a strong system for making car parts and building a big car industry.

In the field of medicine and biotechnology, Alkhorayef said that Saudi Arabia wants to work with Indian companies. He believes that India has great skills in making medicines and medical products, and Saudi Arabia can benefit by learning from India and working together.

He also talked about the petrochemical industry. Saudi Arabia wants companies to produce high-quality chemicals. Earlier, Saudi Arabia focused mainly on energy security, but now minerals have also become very important. He said that working together early will help Saudi Arabia understand what minerals India needs and how both countries can support each other in this field.

Alkhorayef also shared some benefits that Saudi Arabia is giving to businesses that want to invest. He said that the country is providing well-planned industrial lands, ready-made factories, and easy loans, which can cover up to 75% of the cost of starting a business. This makes it easier for companies to set up factories and start production in Saudi Arabia.

With this strong teamwork between both countries, there are many new chances for growth in industry and mining. Saudi Arabia and India are working together to take advantage of these opportunities and build a better future.