Long-standing trade partners India and Saudi Arabia have formed a Joint Working Group (JWG) to deepen bilateral cooperation in maritime trade and improve strategic partnership in the shipping and logistics sectors.
As per a joint statement released this past week after a high-level virtual meeting between Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, and Saudi Arabia’s Minister of Transport and Logistic Services, Saleh bin Nasser Al-Jasser, the establishment of the strategic partnership council has elevated bilateral cooperation between the two to new heights.
“India and Saudi Arabia share centuries-old economic and socio-cultural ties,” said Sonowal, while underscoring the historic relationship between the two.
The council, added the minister, will be co-chaired by the leaders of both the countries. India also invited Saudi Arabia to explore investment prospects across its port and shipping ecosystem.
Elaborating upon recent developments, Sonowal said Saudi Arabia’s Folk Maritime Services had launched the Jeddah–Mundra/Nhava Sheva route that is expected to cut down transit times and costs.
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Saudi Arabia is India’s fifth-largest trading partner, while India stands as the Kingdom’s second-largest trading partner. Bilateral trade between the two in FY 2024-25 was approximately USD 42 billion.
Sonowal also drew comparisons between India’s Maritime India Vision 2030 and Amrit Kaal Vision 2047 with Saudi Vision 2030, and proposed a collaboration on India’s MAITRI digital platform for the harmonisation of maritime trade.
The Maritime Development Fund, with a corpus of more than USD 3 billion, offers opportunities in port infrastructure, coastal shipping and logistics. Mega projects such as Vadhavan Port on India’s west coast and the Outer Harbour Project at VO Chidambaranar Port in Tamil Nadu were showcased as key investment destinations.
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