India, Saudi Arabia bolster bilateral ties in chemicals and fertilisers sector

New Delhi, July 14 (IANS) Highlighting strong economic ties between India and Saudi Arabia, the visit by Union Health and Chemicals and Fertilisers Minister, JP Nadda, to Dammam and Riyadh focused on enhancing bilateral cooperation in the chemicals and fertilisers sector, according to an official statement.

Nadda led a high-level delegation for the two-day official visit over the weekend. The minister held discussions with the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al Khorayef, in Riyadh on mechanisms to strengthen partnership in fertilisers, petrochemicals and pharmaceutical sectors.

They witnessed the signing of long-term agreements between Maaden and Indian companies — IPL, KRIBHCO and CIL — for supply of overall enhanced 3.1 million metric tonnes of Diammonium Phosphate (DAP) fertiliser per annum for five years from 2025-26 onwards, with further extension of five years with mutual consent, the official statement said.

In 2024-25, India’s imports of DAP fertiliser from Kingdom of Saudi Arabia were 1.9 million MT, reflecting around 17 per cent increase over 1.6 million MT imported during FY 2023-24.

Both sides underscored their commitment to broadening the scope of bilateral relations to include other key fertilisers such as urea, along with DAP aiming to further ensure India’s fertiliser security.

According to the ministry, discussions were also held on facilitating mutual investments, with a focus on exploring opportunities for Indian Public Sector Undertakings (PSUs) to invest in the Saudi fertiliser sector, and reciprocally, Saudi investments in India.

Additionally, the leaders deliberated on avenues for collaborative research, especially in developing India-specific customised and alternative fertilisers to enhance agricultural productivity and sustainability.

Nadda also held a bilateral meeting with His Royal Highness Prince Abdulaziz bin Salman Al Saud, Minister of Energy, Kingdom of Saudi Arabia and co-chair of the Economy and Investment Committee of the Strategic Partnership Council between India and Saudi Arabia on ways to enhance the economic partnership between the two countries.

He also met Abdulaziz Al-Rumaih, Saudi Vice Minister of Health in Riyadh.

They discussed ways to enhance cooperation in the medical sector, health services, pharmaceuticals, digital health solutions, and knowledge exchange. In this context, they noted the significance of the bilateral MoU on health signed during the recent State Visit of the Prime Minister Narendra Modi to Saudi Arabia.

--IANS

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