Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Shri Piyush Goyal, will be attending the 7th Edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia, from October 24th to 25th, 2023. During the event, the Minister is expected to meet several dignitaries from the Kingdom of Saudi Arabia, including the Energy Minister, Commerce Minister, Investment Minister, Industry and Mineral Resources Minister, and the Governor of the Public Investment Fund (PIF).
Shri Piyush 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 Saudi Investment Minister. He will also engage with the Indian community in Saudi Arabia, meet with business leaders, and interact with leading CEOs from around the world. The FII Institute is a global nonprofit foundation launched by Saudi Arabia, with a focus on discussing new investment pathways and creating a global “Impact On Humanity.” It has four areas of focus: Artificial Intelligence (AI) & Robotics, Education, Healthcare, and Sustainability.
The theme for the 7th Edition of FII is “The New Compass,” which emphasizes the New Global Order. The event is expected to gather world-leading investors, business leaders, policymakers, inventors, and explorers to explore new markets and frontiers of economic growth and prosperity. Saudi Arabia is one of India’s significant strategic partners, with trade between the two countries reaching an all-time high of USD 52.75 billion in FY 2022-23. The two nations have established the India-Saudi Arabia Strategic Partnership Council (SPC), aimed at enhancing the bilateral relationship in various domains, including political, security, social, cultural cooperation, as well as economic and investment cooperation.
The presence of Union Minister Piyush Goyal at the 7th FII is expected to further strengthen the strategic partnership and collaboration between India and Saudi Arabia in various fields, contributing to peace and stability in the region.