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Union Minister of Consumer Affairs, Food and Public Distribution Sh. Piyush Goyal is set to participate in the 7th Edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia, from October 24th to 25th, 2023. The event will see high-level meetings with Kingdom of Saudi Arabia (KSA) dignitaries, including His Royal Highness (HRH) Prince Abdul Aziz Bin Salman Al-Saud, Energy Minister of KSA, as well as key ministers and officials.
Piyush Goyal will co-chair a conclave session focusing on “From Risk to Opportunity: Strategies for Emerging Economies in the New Industrial Policy Era,” alongside KSA’s Investment Minister. Additionally, he will engage with the influential Indian community in Saudi Arabia and hold discussions with business leaders and CEOs from around the world.
The FII Institute, a global nonprofit foundation initiated by KSA, aims to unite global government and business leaders to explore new avenues for investment with a primary focus on making a positive impact on humanity, covering areas such as Artificial Intelligence (AI) and robotics, Education, Healthcare, and Sustainability.
The theme of the 7th Edition of FII is “The New Compass,” which centers around the New Global Order. The event anticipates the presence of prominent investors, business leaders, policymakers, inventors, and explorers. Participants will convene to discuss and explore new markets and economic growth prospects.
India and Saudi Arabia share a robust strategic partnership, with trade between the two nations reaching a historic high of USD 52.75 billion in FY 2022-23. Their cooperation is further evident through the India-Saudi Arabia Strategic Partnership Council (SPC), established in 2019. The SPC seeks to enhance relations in various domains, including political, security, social, cultural cooperation, and economic and investment matters. India is the fourth country, after the UK, France, and China, to form such a partnership with Riyadh.
The first summit-level meeting of the SPC, co-chaired by Prime Minister Narendra Modi and KSA Crown Prince HRH Mohammed Bin Salman Al Saud in September 2023, emphasized crucial areas such as energy security, trade and investment, defense and security, healthcare, and food security. The cooperation between these two significant and fast-growing economies is envisioned to contribute to peace and stability in the entire region.
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