Indian Prime Minister Narendra Modi’s upcoming visit to Saudi Arabia is poised to elevate bilateral economic relations to new heights, as both nations prepare to solidify strategic partnerships across their private sectors. Modi is expected to meet Crown Prince Mohammed bin Salman on Tuesday to discuss key areas of collaboration, including trade, investment, and energy.
Ahead of the visit, Abdulaziz Al-Qahtani, Chairman of the Saudi-Indian Business Council, expressed optimism about the deepening economic ties. He emphasized that India is Saudi Arabia’s third-largest trading partner in terms of exports and fourth in imports, a relationship that continues to grow. In 2023, bilateral trade surged to approximately $157 billion—a 20% increase from the previous year.
India’s exports to Saudi Arabia include chemicals, precious stones, metals, copper, and aluminum. Conversely, Saudi Arabia exports a wide range of goods to India, such as plant and mineral products, pharmaceuticals, apparel, and machinery. 
Al-Qahtani highlighted two private sector agreements signed in February as key milestones in this deepening partnership. These agreements reflect a shared commitment to advancing trade and investment through mutual initiatives.
The Saudi-Indian Business Council is currently pursuing several strategic projects, including the activation of a bilateral investment promotion and protection agreement, the implementation of a double taxation avoidance treaty, and the creation of preferential frameworks for unconventional business ventures.
Indian business presence in Saudi Arabia is also on the rise, with over 50 companies now operating in the Kingdom. Notably, the construction sector leads with 20 firms, followed by strong participation in healthcare, training, and technology. Plans are now underway to expand this collaboration into the manufacturing sector, opening new avenues for joint economic growth.
As Prime Minister Modi’s visit unfolds, expectations are high for a renewed era of collaboration that will not only strengthen public-private ties but also contribute to long-term economic integration between two of Asia’s most dynamic economies.
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