Saudi Arabia is important player in today’s global economy: Dr. S. Jaishankar

Saudi Arabia is important player in today’s global economy: Dr. S. Jaishankar

RIYADH — Saudi Arabia is certainly an important player in today’s global economy, not only due to its impressive growth numbers, but also due to its central position in the energy markets, said Indian External Affairs Minister Dr. S. Jaishankar to a question during an interview with Saudi Gazette on Saturday.

“The Kingdom is an important economic partner for India, with nearly $42.86 billion worth of trade during FY22 (April 2021 – March 2022),” Dr. S. Jaishankar said while responding to the query whether the Strategic Partnership Council will provide for increased engagement and interaction from India.

To another question on whether India will be exploring investment opportunities in the Kingdom, Dr. S. Jaishankar said, recent years have witnessed a sharp rise in our bilateral investment exchanges. I am glad to note that Saudi Arabia is now the 18th largest investor in India with investments amounting to $3.15 billion.

He added, “Since the formation of our Strategic Partnership Council, the Public Investment Fund (PIF) has made investments to the tune of $2.8 billion in digital and retail sectors of India. Similarly, Indian investments in the Kingdom of Saudi Arabia have also reached $2 billion and are distributed across varied sectors of IT, construction,