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Visit of Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri. Piyush Goyal to Saudi Arabia on 24-25 October 2023

Posted on: October 26, 2023 | Back | Print

Embassy of India

Riyadh

(PIC Wing)

Press Release

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Visit of Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, Textiles, Shri. Piyush Goyal to Saudi Arabia on  24-25 October 2023

Hon’ble Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, Textiles, Shri. Piyush Goyal, visited Saudi Arabia from October 24-25, 2023. During the visit, the Hon’ble Minister participated in the 7th edition of Future Investment Initiative (FII) held in Riyadh, met with several Saudi dignitaries, as well as interacted with the business Community and Indian diaspora in Saudi Arabia.

2. On October 24, the Hon’ble Minister attended the opening ceremony of the 7th FII and participated as a speaker in one of the plenary session titled “The Coming Investment Mandate”. Later the same day the Hon’ble Minister had co-chaired a session with H.E. Eng. Khalid bin Abdulaziz Al-Falih, Minister of Investment, Ministry of Investment of Saudi Arabia (MISA) titled “Rising Global South: Strategies for Emerging Economies in the New Industrial Policy Era.  

3. During the course of the two days, the Hon’ble Minister held a bilateral meetings and discussions with HRH the Minister of Energy Prince Abdulaziz bin Salman, H.E. Khalid A Al Falih, Saudi Minister of Investment, Commerce Minister  H.E. Dr. Majid bin Abdullah  Kassabi, Saudi Industry and Mineral Resources Minister  H.E. Bandar bin Ibrahim AlKhorayef to discuss the deepening of the bilateral economic and trade partnership and the follow up from the State Visit of HRH Crown Prince and Prime Minister Mohamed Bin Salman. He also held a separate meeting with Governor PIF, H.E. Yassir Rummayyan. 

4. During the sidelines of the FII, Hon’ble Minister met with Mr. Ajay Banga, President of World Bank, Mr. Ayser Tayed, Executive MD,  Aramco Ventures, Mr. Hassan Jameel, Vice Chairman & Deputy President, Abdul Lateef Jameel Group,, Mr. Ray Dalio, Founder of Bridgewater Associates, Mr. Nadhmi Al Nasr, CEO, NEOM Group. The Hon’ble Minister also interacted with prominent Indian business leaders in Saudi Arabia. Subsequently, he attended an interactive session with Indian Community members in Saudi Arabia.

5. On October 25, the Hon’ble Minister attended a Business Round Table organized at the Federation of Saudi Chambers. The event was attended by a large number of prominent Saudi business personalities. Subsequently, a Memorandum of Understanding between the Federation of Saudi Chambers of Commerce and the Confederation of Indian Industry was signed in his presence. 

6. The Indo-Saudi partnership has strengthened considerably in recent years due to sustained engagements at various levels. The visit further consolidated the strategic partnership between the two countries, especially in the field of commerce and investments.

 

Riyadh

25 October 2023

 

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