Blitz Bureau
Union minister for commerce and industry Piyush Goyal has urged global investors to tap into India’s rapidly growing high-tech sectors—artificial intelligence, renewable energy, digital infrastructure, and advanced manufacturing—which he highlighted as promising areas for investment.
During his visit to Saudi Arabia from October 29-30, Goyal participated in the Plenary Session of the 8th Edition of Future Investment Initiative (FII), with representatives from global governments and the industry.
According to a Ministry of Commerce and Industry statement, he highlighted the critical role of international partnerships and economic diplomacy in fostering global cooperation, innovation, technological advancement, and investment.
Goyal also co-chaired the second Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) along with the Minister of Energy, Kingdom of Saudi Arabia, His Royal Highness Prince Abdulaziz bin Salman AlSaud in Riyadh. The Strategic Partnership Council was established in 2019, following the visit of Prime Minister Narendra Modi to Saudi Arabia in October 2019.
Reviewing the progress achieved by the four joint working groups in agriculture and food security; energy; technology and information technology; and industry and infrastructure, the panel noted the deepening of bilateral economic partnership between India and Saudi Arabia and deliberated on ways to enhance trade and investment.
According to the ministry, Goyal also met Peter Herweck, CEO of Schneider Electric and William E. Ford, Chairman and CEO of General Atlantic, to discuss India’s economic landscape and investment opportunities across sectors.
He also launched the ‘Lulu Wali Diwali Festival’ at the Lulu Hypermarket by lighting a big diya made with LED, furthering India-Saudi cultural and economic ties.. At the Indian Embassy in Riyadh, the Minister unveiled the One District, One Product (ODOP) Wall, featuring unique products from various districts across India.
