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Mint
a day ago
- Business
- Mint
India, Saudi Arabia set up joint working group to deepen maritime ties
New Delhi: India and Saudi Arabia look to deepen maritime ties by setting up a joint working group on shipping and logistics, the ministry of ports, shipping and waterways said on Wednesday. The move, announced after a high-level virtual meeting between ministers Sarbananda Sonowal and Saleh bin Nasser Al-Jasser, marks a new chapter in the bilateral ties. The Strategic Partnership Council, co-chaired by the leaders of both countries, will meet regularly to advance collaboration in ports, shipping and logistics. 'The creation of a joint working group is a significant step in taking forward our maritime relations. It reflects our shared vision to strengthen economic linkages, connectivity and sustainability across the maritime domain,' Sonowal said. Saudi Arabia is India's fifth largest trading partner, while India is the kingdom's second largest. Their bilateral trade was at around $42 billion in fiscal year 2025 (FY25). Minister Sonowal underscored the historic and growing relationship between the two nations and highlighted the complementary link between India's Maritime India Vision 2030 and Amrit Kaal Vision 2047 with Saudi Vision 2030. 'We see strong complementarities with Saudi Arabia's Vision 2030, particularly in logistics and supply chain transformation,' he said. Sonowal pointed to recent developments, including the launch of the Jeddah–Mundra/Nhava Sheva route by Saudi Arabia's Folk Maritime Services, which is expected to cut transit time and costs. He also proposed collaboration on India's MAITRI digital platform for harmonization of maritime trade. 'With India's $1 trillion maritime investment roadmap, there is immense potential for joint ventures in green hydrogen hub ports, digitalized port operations and sustainable shipping solutions,' the minister added. India has invited Saudi Arabia to explore investment prospects across its port and shipping ecosystem. The Maritime Development Fund, with a corpus of over $3 billion, offers opportunities in port infrastructure, coastal shipping and logistics. Mega projects such as Vadhavan Port on India's west coast and the Outer Harbour Project at VO Chidambaranar Port in Tamil Nadu were showcased as key investment destinations. New Delhi also proposed collaboration in shipbuilding and ship repair clusters, including possible cooperation between the Shipping Corp. of India and Saudi companies. Sonowal invited his counterpart to the India Maritime Week, to which the Saudi side said a delegation will attend the event slated for 27-31 October in Mumbai.
The Hindu
13-07-2025
- Business
- The Hindu
Indian fertilizer majors sign deal with Saudi Arabia firm Ma'aden
NEW DELHI Three major fertilizer producers from India entered into long-term agreements on supply of fertilizers with Ma'aden of Saudi Arabia. The signing of the agreements was done in the presence of J. P. Nadda, Minister of Health and Family Welfare and Chemicals and Fertilizers, who is on a three-day (July 11-13) visit to the Gulf kingdom. A press note from the Government of India said that the agreements will ensure the supply of 3.1 million MT of DAP (Diammonium Phosphate) fertilizer per annum for five years from 2025-26 onwards, with further extension of five years with 'mutual consent'. Also read: Coromandel International signs MoU with Saudi miner Ma'aden for phosphatic fertilizers Mr. Nadda met with the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al Khorayef, in capital Riyadh and discussed mechanisms to strengthen bilateral partnership on fertilizers, petrochemicals and pharmaceutical sectors. 'Discussions were also held on facilitating mutual investments, with a focus on exploring opportunities for Indian Public Sector Undertakings (PSUs) to invest in the Saudi fertilizer sector, and reciprocally, Saudi investments in India,' said the press note. The two sides also formed a joint team led by the Secretary (Fertilizer) on the Indian side and the Vice Minister for Mining Affairs in the Ministry of Industry and Mineral Resources on the Saudi side to explore long-term collaboration in this sector — a step crucial for ensuring India's agricultural security. 'At a time when some countries are showing a restrictive approach in fertilizer supply, the commitment from KSA demonstrates that India's friends and partners continue to work closely to deliver requirements and collaborate on future investments,' said the press note. Mr. Nadda also met Prince Abdulaziz bin Salman Al Saud, Minister of Energy, and co-chair of the Economy and Investment Committee of the Strategic Partnership Council between India and Saudi Arabia, on ways to enhance the economic partnership between the two countries. The second meeting of the Strategic Partnership Council (SPC) took place during Prime Minister Narendra Modi's visit to Jeddah in April. The SPC has prioritised India-Saudi relations in the fields of defence, energy and cultural domains.
Gulf Insider
08-06-2025
- Business
- Gulf Insider
Saudi Pavilion At Expo 2025 Osaka Celebrates 70th Anniversary Of Diplomatic Relations With Japan
The Saudi Pavilion at Expo 2025 Osaka is celebrating the 70th anniversary of diplomatic relations between Saudi Arabia and Japan. The two countries established diplomatic relations on June 7, 1955, laying the foundation for a long-term partnership that has evolved over the decades into a multifaceted alliance enhancing cultural exchange and diplomatic cooperation. This partnership has also had a significant economic impact on both nations. In February 2025, Saudi Arabia and Japan signed a memorandum to establish a Strategic Partnership Council. In this context, Saudi Ambassador to Japan and Commissioner General of the Saudi Pavilion at Expo 2025 Osaka Dr. Ghazi Faisal Binzagr said that Saudi-Japanese relations have grown and strengthened over the past 70 years. 'The relations go beyond a mere economic partnership to reflect the depth and diversity of our ties. Today, we build on the strength of the past and harness the momentum of the present to jointly shape a new vision for the future,' the ambassador said. 'With Expo 2025 taking place in Osaka and Saudi Arabia hosting Expo 2030 in Riyadh, our two countries stand at the forefront of global exchange, showcasing the latest innovations and sustainable technologies, and contributing to shaping an inclusive future for all.' The Saudi Pavilion at Expo 2025 Osaka hosts hundreds of business events aimed at strengthening trade and investment relations between the Kingdom and Japan. These include presentations led by the Ministries of Investment and Commerce, as well as events highlighting the trade and investment opportunities offered by Saudi Vision 2030. Trade volume between the two countries has grown significantly over the past decade, rising from $33.4 billion to over $41 billion currently. The Saudi Pavilion aims to increase the number of Japanese visitors to the Kingdom, targeting 30,000 annual visitors before Expo 2030 Riyadh. This is part of the comprehensive Saudi-Japan Vision 2030 strategy, which includes more than 80 projects across nine sectors: culture, food and agricultural security, media and entertainment, healthcare, advanced infrastructure, finance and investment, competitive industries, energy, small and medium enterprises, sports, and education. Cultural exchange between the two countries has flourished, highlighted by Saudi Arabia's role in bringing Japanese culture to the Middle East through local manga studios, whose works will be showcased at the Saudi Pavilion in August. The Saudi Pavilion at Expo 2025 Osaka offers more than 700 diverse and engaging events, including daily shows and live performing arts. Since the Expo opened in April 2025, it has attracted over 500,000 visitors. On September 23, it is expected to host a variety of events and presentations in celebration of Saudi National Day.
Saudi Gazette
08-06-2025
- Business
- Saudi Gazette
Saudi Pavilion at Expo 2025 Osaka celebrates 70th anniversary of diplomatic relations with Japan
Saudi Gazette report OSAKA — The Saudi Pavilion at Expo 2025 Osaka is celebrating the 70th anniversary of diplomatic relations between Saudi Arabia and Japan. The two countries established diplomatic relations on June 7, 1955, laying the foundation for a long-term partnership that has evolved over the decades into a multifaceted alliance enhancing cultural exchange and diplomatic cooperation. This partnership has also had a significant economic impact on both nations. In February 2025, Saudi Arabia and Japan signed a memorandum to establish a Strategic Partnership Council. In this context, Saudi Ambassador to Japan and Commissioner General of the Saudi Pavilion at Expo 2025 Osaka Dr. Ghazi Faisal Binzagr said that Saudi-Japanese relations have grown and strengthened over the past 70 years. 'The relations go beyond a mere economic partnership to reflect the depth and diversity of our ties. Today, we build on the strength of the past and harness the momentum of the present to jointly shape a new vision for the future,' the ambassador said. 'With Expo 2025 taking place in Osaka and Saudi Arabia hosting Expo 2030 in Riyadh, our two countries stand at the forefront of global exchange, showcasing the latest innovations and sustainable technologies, and contributing to shaping an inclusive future for all.' The Saudi Pavilion at Expo 2025 Osaka hosts hundreds of business events aimed at strengthening trade and investment relations between the Kingdom and Japan. These include presentations led by the Ministries of Investment and Commerce, as well as events highlighting the trade and investment opportunities offered by Saudi Vision 2030. Trade volume between the two countries has grown significantly over the past decade, rising from $33.4 billion to over $41 billion currently. The Saudi Pavilion aims to increase the number of Japanese visitors to the Kingdom, targeting 30,000 annual visitors before Expo 2030 Riyadh. This is part of the comprehensive Saudi-Japan Vision 2030 strategy, which includes more than 80 projects across nine sectors: culture, food and agricultural security, media and entertainment, healthcare, advanced infrastructure, finance and investment, competitive industries, energy, small and medium enterprises, sports, and education. Cultural exchange between the two countries has flourished, highlighted by Saudi Arabia's role in bringing Japanese culture to the Middle East through local manga studios, whose works will be showcased at the Saudi Pavilion in August. The Saudi Pavilion at Expo 2025 Osaka offers more than 700 diverse and engaging events, including daily shows and live performing arts. Since the Expo opened in April 2025, it has attracted over 500,000 visitors. On September 23, it is expected to host a variety of events and presentations in celebration of Saudi National Day.
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First Post
04-06-2025
- Business
- First Post
India-Gulf ties gain new strategic depth despite regional crises
While recent regional crises have kept India-Gulf ties subdued, the depth of the relations, combined with recent momentum behind these partnerships, creates a strong foundation for increased integration over the coming decades read more Despite escalating regional crises, from the recent India-Pakistan tensions after the Pahalgam terror attack to the ongoing conflict in Gaza, India's strategic ties with the Gulf are growing stronger. On April 22, the same day a Pakistan-backed militant group attacked tourists in Jammu and Kashmir's Pahalgam, Prime Minister Narendra Modi was in Jeddah meeting with Saudi Crown Prince Mohammed bin Salman. It marked his third visit to Saudi Arabia as prime minister, underscoring a relationship that has steadily expanded in recent years. STORY CONTINUES BELOW THIS AD According to an Atlantic Council report, PM Modi's visits in 2016 and 2019 laid the groundwork for the bilateral Strategic Partnership Council, which has since enabled around 50 cooperation agreements in areas such as construction, telecommunications, and technology. A joint committee is also working toward facilitating $100 billion in Saudi investment into India, added the report. While current regional tensions have overshadowed discussions about India-Gulf Cooperation Council (GCC) ties, the depth of the relations, combined with recent momentum behind these partnerships, creates a strong foundation for increased India-Gulf integration over the coming decades. Strategic partnerships expand beyond oil India's GDP reached $3.56 trillion in 2023, up from $2.68 trillion in 2020, with projected growth of 6.5% in 2024. This rapid economic expansion has driven a sharp rise in energy demand, making India the world's third-largest oil consumer, after China and the United States. As India seeks to meet this growing demand while transitioning to cleaner energy sources, its partnerships with Gulf countries have become increasingly strategic. Reflecting this shift, recent deals include Saudi Arabia's commitment of $12 billion to India's renewable energy and infrastructure sectors, along with new joint ventures in green hydrogen, solar power, and battery storage. The India-Saudi Strategic Partnership Council now functions on two parallel tracks —political/security and economic/investment — highlighting a deepening, institutionalised partnership at the highest levels. India deepens defence ties across the Gulf India's defence ties with Saudi Arabia, the UAE, and Oman have grown, with regular joint exercises, defence dialogues, and agreements on intelligence sharing and counterterrorism. India and Saudi Arabia signed a defence cooperation agreement in 2014, enabling the exchange of military information, joint training, and collaboration in areas like logistics, hydrography, and security. STORY CONTINUES BELOW THIS AD Since then, the two countries have conducted regular joint exercises across all military branches, and their Joint Committee on Defence Cooperation has met six times. Most recently, the Indian Army and Royal Saudi Land Forces held their first Army-to-Army Staff Talks on April 23–24 to further boost ties. India's security partnership with Oman is even older and deeper. A military protocol was signed in 1972, followed by a 2005 defence cooperation MoU. In 2018, Prime Minister Modi secured access for the Indian Navy to use Oman's Duqm port for logistics and maintenance. The UAE is also expanding its defence ties with India. During his official visit to India in May, Defence Minister Sheikh Hamdan bin Mohammed Al Maktoum formalised cooperation between the two countries' coast guards and defence industries. A joint statement emphasised the need to scale up defence collaboration to match the rapid growth in trade and business. Free trade on the horizon The Gulf Cooperation Council (GCC), a regional bloc of six countries, plans to launch free trade agreement (FTA) negotiations with India in 2025, according to the Ministry of External Affairs (MEA). This initiative aims to reduce trade barriers, increase economic integration, and foster collaboration across digital, industrial, and service sectors. STORY CONTINUES BELOW THIS AD India and the GCC share a robust relationship, particularly in the areas of trade, energy, and investment. The GCC has emerged as one of India's key trading partners, with bilateral trade steadily increasing in recent years. Ongoing negotiations for a Free Trade Agreement (FTA) are part of New Delhi's broader push to expand economic ties with regional and global blocs. India has been actively pursuing FTAs with multiple countries and regions to boost trade, attract investment, and support long-term economic growth. India-Middle East-Europe Economic Corridor (IMEC) The India-Middle East-Europe Economic Corridor (IMEC), unveiled at the G20 Summit in September 2023, is a key symbol of India's expanding engagement with the Gulf and beyond. Designed to connect India to Europe via the Arabian Peninsula and Israel, IMEC focuses on three main areas: transport, digital infrastructure, and energy. Seen as a strategic counter to China's Belt and Road Initiative, IMEC builds on existing infrastructure to boost regional connectivity. For Gulf countries, it aligns with long-term development goals aimed at diversifying their economies beyond oil. India is a strong supporter of the project, which promises to deepen trade and investment links. However, tensions in the Middle East, especially over potential links between Saudi Arabia and Israel, pose short-term obstacles. Despite this, key elements of IMEC remain viable, and broader India-Gulf cooperation is expected to grow through focused projects in areas like energy, food security, and technology. STORY CONTINUES BELOW THIS AD India remains a key player in the Gulf. As of 2024, nine million non-resident Indians live in GCC countries, making up 25% of India's global expatriate population. Remittances, cultural, and family ties remain a vital pillar of the relationship, supporting both economies and fostering mutual trust. India's ability to maintain and strengthen its Gulf partnerships amid regional instability, global tensions, and evolving US policies highlights the growing maturity and strategic independence of its foreign policy. Unlike China's largely transactional approach, India is increasingly seen as a long-term partner, with deepening institutional ties in defense, trade, and diaspora engagement that anchor it firmly within the region's social and economic landscape. With inputs from agencies
