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Piyush Goyal to attend investment conclave in Saudi Arabia amid risks as Israel Hamas war intensifies

Union Minister Piyush Goyal

The seventh edition of Future Investment Initiative (FII) in Saudi Arabia’s Riyadh will kick off tomorrow. Union Minister Piyush Goyal, who will attend the one day event will hold meetings with several dignitaries including the Energy Minister of KSA, Prince Abdul Aziz Bin Salman Al-Saud, Commerce Minister, Majid bin Abdullah AlKassabi, Investment Minister Khalid A. Al Falih, Industry and Mineral Resources Minister Bandar bin Ibrahim AlKhorayef and Governor Public Investment Fund (PIF) Yassir Rummayyan among others.

FII Institute, a global nonprofit foundation, launched by Saudi Arabia, aims to gather government and business leaders from around the world to discuss new pathways for investment with the goal to create a global “impact on humanity” with a focus on Artificial intelligence (AI) & robotics, education, healthcare, and sustainability.

The event is of great significance as it takes place amid the ongoing Israel-Hamas war, which can potentially disrupt global economic recovery.

Goyal will co-chair a conclave session on the theme “From Risk to Opportunity: Strategies for Emerging Economies in the New Industrial Policy Era” along with the KSA Investment Minister.

Goyal is also slated to meet industry captains from across the world along with the Indian diaspora, the largest in the region.

Saudi Arabia is one of India’s most important strategic partners. The trade between the two countries reached an all-time high of $52.75 billion in FY 2022-23.

The two countries are looking at ways to enhance economic cooperation and people to people contacts.

Also read: India and Saudi Arabia think big after signing corridor deal, ink 8 agreements to bolster energy, food security and defence ties