Shri Piyush Goyal to inaugurate the Diwali Utsav at Lulu hypermarket in Riyadh

The Minister to unveil One District, One Product (ODOP) Wall at the Indian Embassy

Union Minister of Commerce and Industry, Shri Piyush Goyal, will be visiting the Kingdom of Saudi Arabia from 29th-30th October 2024. This visit aims to further deepen the India-Saudi Arabia strategic partnership and explore new avenues of trade, investment, and economic cooperation, underscoring India’s growing global economic presence. Shri Goyal will also participate in the 8th edition of the Future Investment Initiative (FII) in Riyadh, a crucial platform that brings together global leaders, investors, and innovators.

Additionally, Shri Goyal will inaugurate the Diwali Utsav at Lulu Hypermarket in Riyadh, interact with the vibrant Indian community, Indian origin Chartered Accountants and emerging leaders of the Indian diaspora from various walks of life. Shri Goyal will also unveil the One District, One Product (ODOP) Wall at the Indian Embassy, promoting India’s rich cultural heritage and local craftsmanship on a global scale.

The visit to Riyadh for the 8^th FII will lay a strong foundation to advance business-to-business engagement and deepen strategic partnerships. His participation will highlight India’s rapid economic growth, its focus on sustainable development, AI, and the immense opportunities in sectors like renewable energy, digital infrastructure, and advanced manufacturing. On the sidelines of the FII, Shri Goyal will engage with prominent global investors. These interactions aim to strengthen investor confidence, facilitate investment flows, and promote India as a preferred global investment destination, aligning with the Make in India initiative

The Minister will also hold bilateral meetings with key Saudi ministers, including the Minister of Commerce, Minister of Industry & Mineral Resources, Minister of Investment, and Minister of Energy, to discuss collaborative efforts in energy transition, digital transformation, and trade facilitation. Shri Goyal will co-chair the 2nd Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council, focusing on sectors like agriculture, food security, energy, technology, and infrastructure.

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Strategic economic partnership deepened through ministerial visits and investment dialogues to boost trade, investment and sectoral cooperation. The ministerial visit to Saudi Arabia centers on deepening bilateral economic engagement through participation in an international investment forum, investor outreach, diaspora-focused cultural promotion including One District One Product, and bilateral and ministerial meetings to advance cooperation on renewable energy, digital infrastructure, manufacturing, agriculture, and trade facilitation to strengthen investment flows.