This article covers trade and investment between India and Saudi Arabia: the value of bilateral trade, the main goods traded, investment in each direction, and the task force, forum and committee that promote economic ties. It draws only on the Ministry of External Affairs (MEA) bilateral brief of May 2026.
Trade
According to the MEA brief of May 2026, India is the 2nd largest trade partner of Saudi Arabia, whereas Saudi Arabia is the 5th largest trading partner of India. The brief states that bilateral trade ties have steadily grown over the years.
In FY 2024-25, bilateral trade stood at USD 41.88 billion. Indian exports were USD 11.76 billion and imports were USD 30.12 billion.
Main goods traded
Major commodities exported from India to Saudi Arabia include:
- engineering goods
- rice
- petroleum products
- chemicals
- textiles
- food products
- ceramic tiles
Major commodities that India imports from the Kingdom are crude oil, LPG, fertilisers, chemicals, and plastic and products thereof. The volumes of crude oil and LPG imported are covered in this guide's article on defence and energy cooperation.
Saudi investment in India
During the visit of Crown Prince Mohammed bin Salman Al Saud to India in February 2019, it was announced that the Kingdom would invest approximately USD 100 billion in India.
The brief puts total Saudi investment in India at about USD 10 billion. This figure includes investment by the Saudi sovereign wealth fund PIF, other Saudi companies and the Saudi-backed Vision Fund.
Major Saudi investors in India named in the brief are:
- ARAMCO (energy)
- Zamil Group (steel)
- Al Fanar (renewable energy)
- SABIC (chemicals)
- SALIC (food sector)
- Abdul Latif Jameel (auto sector)
- Petromin (automobile solutions)
Indian investment in Saudi Arabia
Indian investment in the Kingdom reached approximately USD 3 billion as of August 2023, according to the brief. These investments are across sectors such as consultancy services, construction projects, telecommunications, information technology, financial services and software development, and pharmaceuticals. There are over 6000 Indian companies registered in the Kingdom.
High Level Task Force on Investment
The High Level Task Force on Investment (HLTFI) was agreed upon by both sides during the visit of Crown Prince Mohammed bin Salman Al Saud to India in September 2023. It is co-chaired by the Principal Secretary to the Prime Minister of India and the Energy Minister of Saudi Arabia. Two meetings have taken place, in July 2024 and in April 2025.
India-Saudi Investment Forum
The first India-Saudi Investment Forum was organised on the sidelines of the September 2023 visit. It was co-chaired by the Minister of Commerce and Industry, Shri Piyush Goyal, and the Saudi Minister of Investment, Mr. Khalid Al Falih. More than 50 B2B and B2G MoUs/Agreements were signed during the Forum.
Economic Committee
The Minister of Commerce and Industry and the Saudi Energy Minister co-chaired the 2nd meeting of the Economic Committee under the Strategic Partnership Council in October 2024 in Riyadh. In April 2025, the Council was expanded to four Ministerial Committees, including an Economy, Energy, Investment & Technology Committee, as described in the relations article.
Recent business visits and events
The brief lists the following recent economic engagements:
- The Saudi Minister of Industry and Mineral Resources visited India in February 2025.
- On 12-13 November 2025, the Saudi Investment Minister led a large business delegation to India for engagements with government and private entities.
- Saudi Arabia was the Partner country at World Food India 2025, held in New Delhi in September 2025.
- The Saudi Minister of Transport & Logistic Services, Saleh Al Jasser, attended 'WINGS INDIA 2026' in Hyderabad.