<h1>India and Saudi Arabia to Boost Economic Ties with Investments, Joint Ventures, and Tech Transfers; Discuss Free Trade Deal.</h1> India and Saudi Arabia have agreed to enhance economic collaboration through increased investments, joint ventures, and technology transfers. In a meeting between India's Commerce Minister and Saudi Arabia's Commerce Minister, both parties emphasized transforming their buyer-seller relationship into a deeper energy partnership. They discussed a potential free trade agreement between India and the Gulf Cooperation Council (GCC) countries, focusing on sectors like petroleum, IT, and fertilizers. India aims to diversify exports to Saudi Arabia, while Saudi Arabia seeks improvements in logistics and transportation. The issue of anti-dumping duties was addressed, with India having withdrawn duties on two items. The bilateral trade between the two countries increased from USD 42.048 billion in 2012 to USD 48.172 billion in 2013.