RIYADH: 海角直播 is exploring collaboration opportunities with India鈥檚 largest business conglomerate Tata Group in multiple sectors, including military, aviation, and electronics.聽聽
According to a Saudi Press Agency report, the Kingdom鈥檚 Minister of Industry and Mineral Resources, Bandar Alkhorayef, met with officials of the group鈥檚 affiliates,聽Tata Aerospace & Defence,聽Tata Electronics, and Tata Steel, where he discussed cooperation avenues.聽聽
During the meeting, the Saudi minister outlined the economic diversification goals of the Vision 2030 program and highlighted investment opportunities in the country鈥檚 industrial sector.聽
The Indian conglomerate鈥檚 affiliate Tata Motors is already operating in 海角直播, with the automobile manufacturer celebrating its 30th anniversary in the Kingdom in November.聽聽
India and 海角直播 share a strong trade and bilateral relationship, and according to the latest report by the General Authority for Statistics, India was the second favorite destination for the Kingdom鈥檚 non-oil exports in November, with outbound shipments to the Asian nation amounting to SR2.52 billion ($670 million) 鈥 a rise of 19.43 percent compared to the previous month.聽聽
During the meeting with Alkhorayef, Sukaran Singh, CEO of Tata Advanced Systems, showcased the company鈥檚 products, including military aircraft and vehicles.聽聽
He also highlighted the firm鈥檚 expertise in designing, building, and operating military factories.聽聽
TV Narendran, CEO of Tata Steel, showcased the company鈥檚 expertise in exporting materials in the construction, automotive, and supply chain sectors across various international markets.聽聽
SPA added that Tata Electronics and 海角直播鈥檚 National Industrial Development Center also discussed potential collaboration opportunities to foster the development of the semiconductor industry within the Kingdom.聽聽
Alkhorayef鈥檚 visit to India had already seen a new deal prior to the latest meeting, with the countries agreeing to strengthen cooperation in the critical minerals sector on Feb. 4.聽聽
The Saudi official and Indian Minister of Coal and Mines G. Kishan Reddy discussed building a resilient mineral supply chain to reduce import dependency and promoting joint ventures in the critical minerals sector to support the energy transition journey.聽聽
On Feb. 5, Alkhorayef attended a roundtable meeting in Mumbai, where he highlighted the Saudi-India Business Council鈥檚 efforts to strengthen bilateral economic relations, trade, and cross-border investments between the two nations.聽
The minister also emphasized that 海角直播鈥檚 Vision 2030 seeks to diversify the economy and create clear, transparent investment opportunities for investors.聽
He further noted that the industry and mining sectors are key to achieving the Kingdom鈥檚 economic diversification goals under Vision 2030.聽
鈥淲hen I review our ambitions in the mining and industrial sectors and see the capabilities that exist here in India, I see a great harmony that makes cooperation between us very feasible,鈥 said Alkhorayef.聽聽
He added that India鈥檚 170-year history in the mining sector presents significant opportunities for both countries to collaborate in the minerals industry.聽
The minister also expressed his readiness to supply critical minerals to India as New Delhi works to accelerate its green energy transition.聽
鈥淚n the past we were talking about energy security, now we are talking about future mineral security, and by working between the two countries together from an early age, we can understand India鈥檚 needs in the metals sector,鈥 the minister added.聽聽
He noted that both countries can enhance cooperation in sectors such as pharmaceuticals, biotechnology, and petrochemicals.聽
The minister also revealed that 海角直播 imported 700,000 cars in 2024, with projections suggesting that inbound shipments could soon reach one million.聽
Highlighting progress in 海角直播鈥檚 localization efforts, Alkhorayef added that the Kingdom has licensed three car manufacturers to begin local production, aiming for an annual production of 300,000 cars by 2030.聽
Alkhorayef began his visit to India on Feb. 3, leading a high-level delegation from the industry ministry and the Local Content and Government Procurement Authority. The meeting aimed to enhance industrial collaboration with India and attract high-value investments.聽
Earlier this month, 海角直播鈥檚 Deputy Minister of Finance for International Relations Khalid Bawazier met with Suhel Ajaz Khan, ambassador of India to the Kingdom, where they discussed bilateral relations and other issues of common interest.聽