Union Budget 2023-24
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India and Saudi Arabia enjoy friendly relations reflecting the centuries-old economic and socio-cultural ties.

Close geographical proximity, cultural affinity, natural synergies and common challenges and opportunities have added momentum to this robust engagement. Saudi Arabia today is our 4th largest trade partner (after China, USA and Japan) and is a major source of energy as we import around 17% of our crude oil requirement from the Kingdom.

    • Samvardhana Motherson International (SAMIL) has signed a Memorandum of Understanding (MoU) with the Ministry of Investment, Kingdom of Saudi Arabia to identify investment development opportunities for industrial and service activities in the Kingdom of Saudi Arabia (KSA).

    • On the invitation of His Majesty King Salman, Prime Minister Shri Narendra Modi paid an official visit to Riyadh from 28-29 October 2019 during which the Strategic Partnership Council Agreement was signed, identifying India as one of the Kingdom’s Strategic Partner Countries under ‘Vision 2030’ with a high-level partnership council at the leadership level.

    • During His Royal Highness the Crown Prince’s visit to India in Feb 2019, the two sides agreed on further deepening trade and investment cooperation between the two countries by aligning the Kingdom’s Vision 2030 and its 13 Vision Realization Programs with India’s flagship initiatives of "Make in India”, "Start Up India”, "Smart Cities”, "Clean India”, and "Digital India”.

    • The visit of Prime Minister Narendra Modi to Riyadh in 2016 can be seen as a turning point in our growing engagements with the Kingdom of Saudi Arabia, which have taken an upward strategic direction.

    • The reciprocal visit by then Prime Minister Dr. Manmohan Singh to Saudi Arabia in 2010 raised the level of bilateral engagement to ‘Strategic Partnership’ and the ‘Riyadh Declaration’ signed during the visit enhanced cooperation in political, economic, security and defence realms.

    • The first India-Saudi Arabia joint naval exercises were held towards the end of December 2019 to the beginning of January 2020

    • The diplomatic relations between the two countries was established in 1947. The historic visit of King Abdullah to India in 2006 resulted in signing of ‘Delhi Declaration’ imparting a fresh momentum to the bilateral relationship.

    • Strategic Partnership Council is a holistic institution covering various sectors of cooperation. The SPC has two pillars: i) Political-Security-Socio-Cultural (PSSC); and ii) Economy and Investment. EAM and the Saudi Foreign Minister will co-chair the Political-Security-Socio-Cultural (PSSC) pillar whereas the Economic pillar is to be co-chaired by Commerce & Industry Minister on Indian side and Energy Minister on Saudi side. Under the Economy and Investment pillar 4 JWG’s have been finalized covering the following heads: Industry and Infrastructure; Agriculture and food security; IT and Technology; and Energy.

    • The landmark visits of Prime Minister Shri. Narendra Modi to the Kingdom in 2016 and 2019 and the State visit of Crown Prince Mohammad bin Salman to India in February, 2019 has marked a new era in the bilateral relations, which culminated in the setting up of the Strategic Partnership Council (SPC), co-chaired by the two leaders. Besides that, the two sides signed 11 other MoUs in different fields between SA and India.

    • Bilateral Trade between India and Saudi Arabia grew from $ 5.86 bn in FY 2020-21 to $ 8.76 bn in FY 2021-22

    • Saudi Arabia is the 18th largest foreign investor in India with a cumulative investment of $3.15 bn from April 2000 to September 2022.

    • Saudi Arabia is the 4th largest source of India’s global imports. In terms of imports by Saudi Arabia, India ranks 7th and is a source of around 4.13% of Saudi Arabia’s total imports. Saudi Arabia is a major source of energy as India imports around 18% of its crude oil requirement from the Kingdom. Saudi Arabia is also a major source of LPG for India. In 2019-20, India-Saudi bilateral trade was worth $33.09 bn. During this period, India’s imports reached $26.85 bn whereas exports to Saudi Arabia reached $6.2 bn. The bilateral trade for the period from April - December 2020 is valued at $15.5 bn.

    • The business and visit visa fees for the Indian nationals were decreased and fixed on reciprocal terms. Saudi Arabia is the 12th largest market in the world for Indian exports and is the destination to 2.12% (2019-20) of India’s global exports.

    • According to Saudi Arabian General Investment Authority (SAGIA), there are 476 Indian companies registered as joint ventures/100% owned entities worth US$ 1.5 billion in the Kingdom as of March, 2020.

    • Major commodities of export from India to Saudi Arabia include rice, meat, electrical machinery and equipment, vehicles, mineral oils, organic chemicals, ceramic tiles, apparels. Whereas, major commodities of import for India from Saudi Arabia are crude oil, LPG, fertilizers, chemicals, plastic and products thereof, aluminium and its articles, iron and steel, cooper and its articles, raw hides and skin (other than fur skins) and leather etc.

    • Saudi Arabia is India’s fourth largest trading partner. More than 18% of India’s crude oil imports are sourced from Saudi Arabia. During FY22 (Apr-Dec), bilateral trade was valued at US$29.28 billion. During this period, India’s imports from Saudi Arabia were valued at US$22.65 billion and exports to Saudi Arabia were worth US$6.63 billion.

    • India’s imports from Saudi Arabia reached $34.01bn and exports to Saudi Arabia were worth $ 8.76 bn registering an increase of 49.5% over last year. Total trade with Saudi Arabia accounted for 4.14% of India’s total trade in FY 2021-22.

    • Saudi Arabia hosts a 2.6 million Indian community which has been living in harmony and contributing to the development and progress of Saudi Arabia. Indians in Saudi Arabia send back remittances to the tune of $11 billion or more annually. India and Saudi Arabia signed during February 2019 MoU on cooperation in the area of tourism. Saudi Arabia has recently opened its door for tourism which will further strengthen these relations. India has extended e-Visa facility to Saudi nationals this year.

    • On 21 July 2018, the 4th International Day of Yoga was celebrated with fervour in the prestigious Al-Madi Park of the King Abdulaziz Historical Centre, Riyadh. This marked the first celebration of Yoga in public domain in the Kingdom. The event witnessed huge participation from Saudis, diplomatic corps, officials, journalists, businessmen and Indian diaspora. Two Saudi female Yoga trainers led the Yoga demonstrations on the occasion.

    • Saudi Arabia is the destination of Indian Muslims who go there for performing annual Haj and Umrah. Majesty, the King has agreed to increase the Haj quota for 2019 from 1,75,025 to 2,00,000. This has immediately been implemented this year itself and  Besides Haj more than three hundred thousand Indians visit for Umrah every year.

    • Janadriyah 2018: India successfully participated as ‘Guest of Honour’ in the 32nd edition of the prestigious Saudi National Festival of Heritage and Culture – Janadriyah from 7 – 28 February 2018. The “Guest of Honour’ privilege comes in the backdrop of the historic visit of Hon’ble PM to Riyadh in April 2016 and the historic bilateral relations.

    • The year 2021-22 commemorates 75 years of India’s independence as ‘Azadi ka Amrit Mahotsav’. This celebration also coincides with 75 years of establishment of diplomatic relations between India and Saudi Arabia. As part of this celebration, the Embassy is conducting a host of events from May 2021 till August 2023, which include cultural events, exhibitions, academic activities like quizzes, international film festivals, and sports activities like golf tournaments and cycle rallies.

Prominent Investments

Saudi Arabia in India

Saudi Aramco

Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) have formed a JV with Indian state-run oil companies — Indian Oil Corporation (IOC), Bharat ...Read more


SABIC has invested over $ 100 mn in its technology and innovation centre in Bengaluru, one of the largest investments in India by a Saudi company. ...Read more

Alfanar Energy

Alfanar Energy entered India in 2016 and has commissioned a 50 MW wind project in Gujarat with turbines provided by Suzlon. It also won 300 MW share ...Read more

Public Investment Fund (PIF)

In June 2020, Saudi Arabia’s Sovereign Wealth funs, PIF, acquired 2.32% stake in Jio for INR 11,367 crore. The investment by PIF is at an equity ...Read more

Zamil Air Conditioners India Private Limited

Zamil Air Conditioners India Private Limited, (ZAC India), Subsidiary of Zamil Industrial Investment Company, Saudi Arabia (‘ZIIC’) began its full- ...Read more

India in Saudi Arabia


Wipro Group has been present in the Saudi market for over 15 years. The company already has 1,200 IT professionals working in the country. The ...Read more

Tata Group

Manahil International Company, the new automotive arm of Mohamed Yousuf Naghi & Brothers Group (MYNG), is the sole authorised distributor of Tata ...Read more

Larsen & Toubro

L&T Electrical & Automation Saudi Arabia Company Ltd (LTEASA), formed in 2006, is a wholly-owned subsidiary of Larsen & Toubro. The ...Read more
  • Chemicals


    • 3rd

      Largest consumer of polymers

    • 4th

      Largest producer of agrochemicals

    • 6th

      Largest producer of chemicals

      • 3rd largest consumer of polymers in the world
      • 4th largest producer of agrochemicals in the world
      • Supplies 16% of the global dyestuff and dye intermediates
      • India is set to emerge as fourth largest chemical producer in the world
    Visit Sector 28Investible Projects
  • oil

    Oil & Gas

    • 2nd

      Largest refiner in Asia

    • 3rd

      Largest consumer of crude oil and petroleum products

    • 20%

      Target of achieving ethanol blending in petrol by 2025

      • India is the largest exporter of petroleum products in Asia
      • Its the 3rd largest consumer of energy and oil in the world after China and the US
      • 16,788 km of operational natural gas pipelines and 14,239 km gas pipelines are under development
    Visit Sector 1Investible Projects
  • Renewable Energy

    Renewable Energy

    • #1

      Largest renewable energy capacity expansion program in the world


    • 2nd

      Largest installed wind capacity in Asia

    • 3rd

      in Renewable Energy Country Attractive Index in 2021


      • The world’s largest renewable energy park of 30 GW capacity solar-wind hybrid project is under installation in India
      • 5th Largest Renewable Energy Capacity Globally
      • 5th Largest Installed Solar Capacity
    Visit Sector 499Investible Projects
  • Food Processing

    Food Processing

    • 2nd

      largest producer of food grains, fruits, and vegetables

    • #1 

      producer of Milk

    • $535 bn

      Expected value of Indian food and retail market by 2025-26

      • Largest producer, consumer, and exporter of spices and cashew nuts
      • Largest producer of pulses
      • 353 Cold Chain projects, 63 Agro-Processing Clusters, 292 Food Processing Units, and 6 Operation Green projects have been approved
      • Pradhan Mantri Kisan SAMPADA Yojana, a government scheme, was formulated for creating a modern infrastructure with efficient supply chain management from farm gate to retail outlet
      • 41 upcoming Mega Food Parks under Mega Food Park Scheme
    Visit Sector 76Investible Projects
  • Pharma


    • 3rd

      Largest pharmaceuticals industry by volume

    • #1

      Largest producer of vaccines 

    • 20%

      Share in global pharmaceutical supplies by volume

      • India is currently the 4th largest medical device market in Asia
      • Bio-Pharma is the largest sub-sector contributing to 62% of the total sectoral revenue
      • Expected to reach $65 bn by 2024, and 130 bn by 2030
    Visit Sector 7Investible Projects
  • Ports and Shipping

    Ports & Shipping

    • 16th

      Largest maritime nation

    • 12

      Major ports

    • 200

      Non-major and intermediate ports

      • India has a coastline of nearly 7,517 km
      • Maritime transport in India handles 95% of the trade by volume
      • Seaborne trade in India has grown at twice the global growth rate of 3.3%
    Visit Sector 161Investible Projects
  • Construction


    • 100

      Smart cities by 2020

    • 2nd

      Largest FDI recipient sector for India since 2017

    • 3rd

      Largest construction market globally by 2025

      • India's construction sector is expected to record a CAGR of 15.7% to reach $738.5 bn by 2022
      • The industry contributes 55% share in the steel industry, 15% in the paint industry and 30% in the glass industry
      • The construction sector is the 2nd largest employer in India in 2017
    Visit Sector 791Investible Projects

Recent Investments

Saudi Arabia

Saudi Arabia is the 21st largest investor in India with investments amounting to US $1.8 billion (as per DPIIT from April 2000 to Dec 2020).

Major investment groups from KSA include ARAMCO, SABIC, ZAMIL, E-holidays and Al Batterjee Group. Saudi Sovereign Wealth Fund-backed Soft Bank’s ‘Vision Fund’ has invested several billion dollars in Indian Start-ups such as Delhivery, FirstCry, Grofers, Ola, OYO, Paytm and PolicyBazaa

Saudi Arabia’s Public Investment Authority

The Saudi Arabian Investment Authority issued 41 project licenses to Indian investors in Saudi Arabia in the first quarter of 2020

The Saudi Arabian Investment Authority issued 41 project licenses to Indian investors in Saudi Arabia in the first quarter of 2020; while Saudi Arabia’s Public Investment Authority announced recently investment of$1.3 bn in Reliance Retail and $1.5 bn in Reliance Jio, amongst other investments.


Saudi Arabia's Public Investment Fund picks 2.04% stake in Reliance Retail Ventures Ltd

Saudi Arabia’s sovereign Public Investment Fund (PIF) is investing $1.3 bn to pick 2.04% equity stake in Reliance Retail Ventures Ltd (RRVL).


Reliance Industries Ltd sells 2.32% stake in its digital unit to Saudi Arabia's Public Investment Fund

Reliance Industries Ltd has sold a 2.32% stake in its digital unit to Saudi Arabia's Public Investment Fund for INR 11,367 crore. This is PIF's largest investment into the Indian economy to date and will generate significant long term commercial engagement between India and Saudi Arabia.

Maharashtra Government picks up site for $ 44 bn Aramco-ADNOC mega refinery

The state of Maharashtra has identified the site to set up a $ 44 bn mega oil refinery in partnership with Saudi Arabian and UAE-based oil companies - Saudi Aramco and ADNOC, respectively. This is based on the MoU signed by both the companies last year with a consortium of Indian national oil corporations. 

Saudi Arabian Mining Company signs 2 MoUs worth $ 2 bn with Indian Companies.

Saudi Arabian Mining Company (Ma'aden) signed two MoUs worth $ 2 bn with Indian companies - IPL Co. and KRIBHCO for transfer of 5 mn tonnes of phosphate fertilizers from Saudi Arabia to India.

Saudi Arabia Team

The Saudi Arabia Team at Invest India aims to facilitate and assist Saudi companies in their expansion plans into India. Working closely with various stakeholders including states and regulatory authorities, we bring to you a seamless experience in kick-starting your business in India.

Key Functions

  • Entire spectrum of investment promotion – research, outreach, promotion, facilitation and aftercare
  • Initiating, attracting, facilitating and handholding Saudi investments across sectors
  • Providing information on investment opportunities across sectors and in specific projects 
  • Extending holistic support to the small and medium enterprises from Saudi with India interest

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