Saudi Arabia's Minister of Industry and Mineral Resources Bandar Alkhorayef met with officials from Tata Aerospace & Defense, Tata Electronics and Tata Steel in Mumbai to discuss investment opportunities in the industrial and mining sectors as part of Vision 2030.
Tata Advanced Systems CEO Sukaran Singh shared the company's expertise in the defense industry, while Tata Steel CEO TV Narendran emphasized the company's global export strength. Tata Electronics and Saudi Arabia's National Industrial Development Center discussed cooperation to develop the semiconductor industry in the country.
Saudi Arabia and India agreed to strengthen their partnership in the field of minerals, while the creation of a robust mineral supply chain for energy transformation was discussed at a meeting with Indian Minister of Coal and Mines G. Kishan Reddy.
Minister Alkhorayef stated that Saudi Arabia imported 700,000 vehicles in 2024 and this figure could soon reach 1 million, adding that three car manufacturers have been granted local production licenses in the country and they aim to produce 300,000 vehicles annually by 2030. He also stated that Saudi Arabia is ready to contribute to India's green energy transformation with critical minerals.
Trade and investment relations between the two countries are developing rapidly, while cooperation will also cover the pharmaceutical, biotechnology and petrochemical sectors.
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