India and Saudi Arabia convened a meeting of their High-Level Task Force on Investments in Riyadh on April 21, 2025, just ahead of Prime Minister Narendra Modi’s scheduled visit to Jeddah from April 22 to 23.

The meeting was co-chaired by Dr. P.K. Mishra, Principal Secretary to the Prime Minister of India, and Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy. This Task Force, established following the Crown Prince’s 2023 visit to India, is designed to facilitate and accelerate bilateral investments and strengthen economic ties between the two countries.

During the meeting, both sides engaged in wide-ranging discussions on issues of mutual importance, focusing on facilitating investments across diverse sectors. Key areas of collaboration included refining and petrochemical plants, new and renewable energy, power, telecommunications, and innovation.

The Indian government reiterated its strong commitment to supporting Saudi investments amounting to $100 billion, a pledge made during the Crown Prince’s previous visit. The Task Force also reviewed ongoing technical discussions and agreed to maintain regular consultations to identify and finalize specific investment projects.

The Indian side invited Saudi Arabia’s Public Investment Fund (PIF) to establish an office in India, aiming to foster closer cooperation and streamline investment processes. Additionally, an empowered Indian delegation led by the Secretary of Petroleum will visit Saudi Arabia for further talks, particularly focusing on the oil and gas sector. The Saudi Energy Minister was also invited to India for the next round of Task Force meetings, underscoring the commitment to sustained high-level engagement.

The economic partnership between India and Saudi Arabia is considered a central pillar of their bilateral relationship. Both nations have made significant strides in recent years, with Indian companies investing nearly $3 billion in Saudi Arabia and the Saudi PIF investing in major Indian enterprises. Areas such as fintech, clean hydrogen, energy efficiency, artificial intelligence, and advanced manufacturing have emerged as new frontiers for collaboration, aligning with Saudi Arabia’s Vision 2030 and India’s development goals.

The Task Force meeting reflects the growing strategic and economic partnership between the two countries, setting the stage for further high-level dialogue and cooperation during Prime Minister Modi’s upcoming visit to Saudi Arabia.

ANI