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Goyal will travel to Saudi Arabia for an economic and investment committee meeting.

Goyal will travel to Saudi Arabia | The matter will be talked about during the September 18-19 gathering between Indian Clergyman of Business and Industry Piyush Goyal and Saudi Arabia’s Pastor of Energy Sovereign Abdul Aziz Receptacle Salman.

Goyal will travel to Saudi Arabia

As per an assertion delivered on Saturday, India and Saudi Arabia will foster a procedure to work on their reciprocal coordinated effort on different drives, including the west coast treatment facility project.

The topic will be discussed during the September 18–19 meeting between Indian Minister of Commerce and Industry Piyush Goyal and Saudi Arabia’s Minister of Energy Prince Abdul Aziz Bin Salman.

The Economic and Investments Committee’s first ministerial meeting would be co-chaired by them.

According to the trade ministry, the two ministers would likely talk about the developments in the various joint working groups of the economic and investment committee.

The West Coast Refinery Project, Trans-ocean grid connectivity, Green Hydrogen, Food security, Energy security, and medicines are just a few of the priority areas and projects that both sides are required to develop plans of action for.

They may likewise speed up progress on the declaration made by Crown Sovereign Mohammad bin Salman, during his visit to India in February 2019, of ventures worth $100 billion in India, it added.

According to the statement, this committee is one of the two ministerial verticals set up under the framework of the India-Saudi Arabia Strategic Partnership Council, which is presided over at the most significant level by the State leader of India and the Crown Sovereign of the Realm of Saudi Arabia.

Saudi Arabia and India are each other’s second and fourth major trading partners, respectively. In 2021–2022, India’s imports from Saudi Arabia totaled USD 34 billion, while exports totaled USD 8.8 billion.

Prior in June, FICO score organization Moody’s Financial backers Administration had confirmed Saudi Arabia’s evaluating at ‘A1’ with a steady standpoint, fundamentally determined by the public authority’s monetary strategy viability.

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