While the minister is visiting to attend the annual event of the seventh Future Investment Initiative (FII), his visit is expected to strengthen ties between India and Saudi Arabia amid ongoing geo-political turmoil in West Asia that threatens to disrupt the energy supply chain, an official aware of the development said, requesting anonymity.
India imports about 87% crude oil it processes and Saudi Arabia is one of its major energy suppliers. FII Institute is a global non-profit foundation, launched by KSA, which aims to discuss new pathways for investment with the goal to create a global 'Impact On Humanity'. Its four areas of focus are artificial intelligence (AI) and robotics, education, healthcare, and sustainability.
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