Just before Prime Minister Narendra Modi’s planned trip to Jeddah from April 22 to 23, India and Saudi Arabia held a meeting of their High-Level Task Force on Investments in Riyadh on April 21, 2025.
Prince Abdulaziz bin Salman, the Saudi Arabian Minister of Energy, and Dr. P.K. Mishra, the Principal Secretary to the Prime Minister of India, co-chaired the meeting. The purpose of this Task Force, which was formed in the wake of the Crown Prince’s 2023 visit to India, is to promote and expedite bilateral investments and fortify economic ties between the two nations.
Both parties held extensive talks on topics of shared interest throughout the meeting, with an emphasis on promoting investments in a variety of industries. Refining and petrochemical facilities, power, telecommunications, new and renewable energy, and innovation were among the main areas of cooperation.
The Indian government reiterated its strong commitment to supporting Saudi investments amounting to $100 billion, a pledge made during the Crown Prince’s previous visit. The Task Force also reviewed ongoing technical discussions and agreed to maintain regular consultations to identify and finalize specific investment projects.
The Indian side invited Saudi Arabia’s Public Investment Fund (PIF) to establish an office in India, aiming to foster closer cooperation and streamline investment processes. Additionally, an empowered Indian delegation led by the Secretary of Petroleum will visit Saudi Arabia for further talks, particularly focusing on the oil and gas sector. The Saudi Energy Minister was also invited to India for the next round of Task Force meetings, underscoring the commitment to sustained high-level engagement.
One of the main pillars of India and Saudi Arabia’s bilateral relationship is their economic connection. Both countries have advanced significantly in recent years, with the Saudi PIF investing in large Indian businesses and Indian companies investing close to $3 billion in Saudi Arabia. In line with India’s growth objectives and Saudi Arabia’s Vision 2030, fields including fintech, clean hydrogen, energy efficiency, artificial intelligence, and advanced manufacturing have become new areas for cooperation.
The strengthening strategic and economic engagement between the two nations is reflected in the Task Force meeting, which lays the groundwork for more high-level discussions and collaboration during Prime Minister Modi’s next trip to Saudi Arabia.
