On September 18th and 19th, 2022, Shri Piyush Goyal, then the minister of commerce and industry for India, travelled to Saudi Arabia for a ministerial meeting of the India-Saudi Arabia Strategic Partnership Council.

Two main pillars, the Political, Security, Social, and Cultural Committee and the Committee on Economy and Investments, support the Strategic Partnership Council, which was established in October 2019 during a visit by the Indian Prime Minister to the Kingdom of Saudi Arabia.

Streamlining efforts to bring to fruition the USD 100 Billion in investments His Royal Highness Crown Prince Mohammad Bin Salman announced during his visit to India in February 2019.

Acceptance of 41 areas of collaboration identified by technical teams in the four broad categories of agriculture and food security, energy, technology and information systems, and industry and infrastructure.

Commitment to working within a specified time frame to complete the most pressing projects. Key areas of mutual interest are:

The Kingdom of Saudi Arabia and the United Payments Interface (UPI) are working together to make digital financial technology more widely available.

The two countries have recommitted to working together on a number of projects, including the West Coast refinery, LNG infrastructure investment, and the building of critical petroleum storage facilities in India.

Source: PIB

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1860633