The Minister of Industry and Mineral Resources, His Excellency Mr. Bandar Ibrahim Alkhorayef, emphasized the strong relationship between Saudi Arabia and India in the mining and manufacturing sectors. This partnership is seen as highly feasible, according to reports from a state-run agency.
Speaking to Indian business leaders in Mumbai, H.E. Mr. Alkhorayef noted that Saudi Arabia’s initiatives, particularly in the automotive industry, align well with India’s capabilities. The Kingdom is focusing on localizing this industry to meet demand and strengthen its supplier network.
The minister highlighted the potential for growth in the automotive sector, stressing that ongoing development and component production will enhance competitiveness.
H.E. Mr. Alkhorayef also acknowledged India’s expertise in pharmaceutical manufacturing and expressed Saudi Arabia’s interest in expanding cooperation with Indian firms to capitalize on opportunities in this crucial sector.
As a leading producer of petrochemicals, Saudi Arabia has supported this sector’s growth and aims to encourage companies to pursue high-value petrochemical products. This strategy opens new avenues for collaboration with India.
Highlighting India’s advanced manufacturing techniques and technological base, H.E. Mr. Alkhorayef mentioned Saudi Arabia’s goal to develop a technology-driven industrial framework. The Future Factories Program has been launched to attract investment in modern technologies like robotics, AI, and 3D printing.
There are significant partnership opportunities in the mining sector, given India’s extensive experience. H.E. Mr. Alkhorayef suggested that Saudi Arabia could supply India with essential minerals in the future.
