Explore Business Standard
Don’t miss the latest developments in business and finance.
Underlining the importance of the strategic relationship between India and Saudi Arabia, External Affairs Minister S Jaishankar said on Sunday that the collaboration holds the promise of shared growth, prosperity, stability, security and development. Jaishankar, who arrived here on Saturday on a three-day visit to Saudi Arabia to discuss ways to further strengthen relations between the two countries, addressed diplomats at the Prince Saud Al Faisal Institute of Diplomatic Studies in Riyadh this morning. "Addressed diplomats at the Prince Saud Al Faisal Institute of Diplomatic Studies in Riyadh this morning. Underlined the importance of India-Saudi Strategic Relationship at a time when the world is at crossroads, he said in a tweet. "Our collaboration holds promise of shared growth, prosperity, stability, security and development, he added in another tweet. It is Jaishankar's first visit to Saudi Arabia as the External Affairs Minister. During the visit, Jaishankar will co-chair wit
India and Saudi Arabia on Thursday signed a pact for an annual supply of 2.5 million tonnes of ammonia and DAP, NPK fertilisers for the next three years. Announcing the development in a series of tweets, Chemicals and Fertilisers Minister Mansukh Mandaviya said Indian cooperative KRIBHCO has signed an agreement for investment in a new phosphate project of Saudi Arabia's largest mining firm Ma'aden. "With this, Indian companies have secured a 2.5 million tonnes annual supply of key raw materials like ammonia and finished fertilizers like DAP, NPKs for the next 3 years," the minister tweeted. A joint declaration was made to commit for the long-term supply of up to 1 million tonne of Di-ammonium phosphate (DAP) and NPKs per annum to KRIBHCO, he said. The collaboration includes joint development in agronomy, logistics solutions and product development to support farmers of both India and Saudi Arabia. The tie-up will add even more energy to India-Saudi Arabia friendship and benefit th