India and Saudi Arabia
Energy, businesses and human contacts form a relationship with a Strategic Partnership Council. The April 2025 Jeddah meeting organised cooperation in several areas. Institutional commitments and energy purchases have different measures and timelines.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07The Strategic Partnership Council
Modi and the Saudi crown prince co-chaired the Council's second leaders' meeting on 22 April 2025.
Energy and business trade
The Indian embassy's profile places energy and trade activity within the economic relationship.
The April 2025 meeting
The official list documents the visit's outcomes and the Council's continuity.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 42,046.98 M USD | 2025 · UN Comtrade / IND |
| Goods: India to Saudi Arabia | 10,790.22 M USD | 2025 · UN Comtrade / IND |
| Goods: Saudi Arabia to India | 31,256.75 M USD | 2025 · UN Comtrade / IND |
| Services trade | ||
| Export share: India to Saudi Arabia | 2.42 % | 2025 · UN Comtrade / IND |
| Export share: Saudi Arabia to India | ||
| Investment stock: India in Saudi Arabia | ||
| Investment stock: Saudi Arabia in India |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: India to Saudi Arabia
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: Saudi Arabia to India
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Export share: India to Saudi Arabia
- 2025 · UN Comtrade / IND · Goods share: IND exports to the partner / the same reporter's exports to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | India | Saudi Arabia |
|---|---|---|
| Nominal GDP | 3.96 trillion USD2025 · WB | 1.28 trillion USD2025 · WB |
| GDP per capita | 2,702.48 USD2025 · WB | 34,536.66 USD2025 · WB |
| GDP growth | 7.57 %2025 · WB | 4.5 %2025 · WB |
| Policy interest rate | 5.25 %2026-10-06 · RBI | 4.5 %2026-09-16 · SAMA |
| Inflation · annual average | 2.4 %Annual average · 2025 · WB | 2.08 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4.82 %provisionalprovisionalYear-on-year · Aug. 2026 · MoSPI | 1.8 %Headline CPI · 2026-08 · year-on-year · SAMA / GASTAT |
| Unemployment | 4.22 %ILO est.2025 · WB | 3.04 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -7.4 %IMF est.2025 · IMF | -5.8 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 84.1 %IMF est.2025 · IMF | 31.7 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -0.42 %2025 · WB | -2.56 %2025 · WB |
| Population | 1,463,865,5252025 · WB | 36,973,5552025 · WB |
| Area | 3,287,260 km²2023 · BM / FAO | 2,149,690 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDIndia: 2025 · World BankSaudi Arabia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP per capita
- Current USD per personIndia: 2025 · World BankSaudi Arabia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP growth
- Annual real change (%)India: 2025 · World BankSaudi Arabia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Policy interest rate
- Central bank instrument (%)India: 2026-10-06 · RBI policy repo rate · Reserve Bank of India (RBI) · Access date for Current Rates; does not represent a new decision on 6 October. · Alternative official source; verified 2026-10-06Saudi Arabia: 2026-09-16 · Repo rate; not reverse repo (4.00%) · SAMA · Official central-bank decision; not a commercial lending rate or a bill yield.
- Inflation · annual average
- Average annual change in headline CPI (%)India: 2025 · Average annual CPI change (%) · World BankSaudi Arabia: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedIndia: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · MoSPI / Press Information Bureau, Government of India · Published: 2026-09-14 · provisional · Provisional · Combined rural and urban headline CPI, 2024 base; provisional MoSPI figure. Not food or wholesale inflation. Provisional figure or official advance release; subject to revision.Saudi Arabia: 2026-08 · Year-on-year inflation; official SAMA / GASTAT indicator · SAMA / GASTAT · August 2026 indicator verified in SAMA's indexed version. The dynamic homepage does not expose the value in HTML without JavaScript; publication date unavailable. · Alternative official source; verified 2026-10-07
- Unemployment
- % of the labour force; definition used by the stated institutionIndia: 2025 · World Bank · ILO est.Saudi Arabia: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Budget balance
- General government (% of GDP)India: 2025 · IMF — World Economic Outlook · IMF est.Saudi Arabia: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Gross public debt
- General government (% of GDP)India: 2025 · IMF — World Economic Outlook · IMF est.Saudi Arabia: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Current account balance
- % of GDPIndia: 2025 · World BankSaudi Arabia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Population
- PeopleIndia: 2025 · World BankSaudi Arabia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query. Extrapolated assuming the same growth rate as the previous year.
- Area
- Total area in km²; territorial coverage of the sourceIndia: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAOSaudi Arabia: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
India to Saudi Arabia
| Product or sector | Value / share |
|---|---|
| Land vehicles and components | 1,663.7 M USD2025 · Source |
| Machinery and mechanical appliances | 1,000.8 M USD2025 · Source |
| Electrical and electronic equipment | 564.9 M USD2025 · Source |
| Mineral fuels and oils | 462.2 M USD2025 · Source |
| Pharmaceutical products | 138.8 M USD2025 · Source |
Saudi Arabia to India
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 22,832.8 M USD2025 · Source |
| Machinery and mechanical appliances | 9.7 M USD2025 · Source |
| Electrical and electronic equipment | 9 M USD2025 · Source |
| Land vehicles and components | 0 M USD2025 · Source |
| Pharmaceutical products | 0 M USD2025 · Source |
Connections between people
Education, work, visits and community connections have their own records and procedures. Residents are not equivalent to annual arrivals, and visits may be repeated. The tables retain dates, definitions and sources to distinguish these connections from business contracts and government decisions. [2]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from India living in Saudi Arabia | ||
| Residents from Saudi Arabia living in India | ||
| Study and training: India in Saudi Arabia | ||
| Study and training: Saudi Arabia in India | ||
| Academic stays: India in Saudi Arabia | ||
| Academic stays: Saudi Arabia in India | ||
| Travel: India to Saudi Arabia | ||
| Travel: Saudi Arabia to India |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The Strategic Partnership Council
Modi and the Saudi crown prince co-chaired the Council's second leaders' meeting on 22 April 2025. The first took place during the September 2023 Saudi visit to India. The mechanism organises political and sectoral follow-up. It is not equivalent to a single energy contract or a conversion of all business activity into obligations between governments. [1] [2]
Energy and business trade
The Indian embassy's profile places energy and trade activity within the economic relationship. Raw material purchases, stakes in businesses and project financing are different measures. Customs data record goods for a period, while agreements may last several years. Sectoral dependence cannot be properly assessed using only the aggregate balance of all trade. [2]
The relationship's civilian dimension
The economic summary includes professional connections and business activity. Workers, residents and visitors have different coverage; their numbers are not inferred from the value of oil or an investment promise. Recruitment mechanisms, consular protection and permits require specific data. The common table retains empty cells where a comparable bilateral count has not been verified. [2]
The scale of the two economies
India recorded nominal GDP of 3,956.1 billion USD in 2025, compared with 1,276.9 in 2025 for Saudi Arabia. The reference populations were 1,463.87 million (2025) and 36.97 million (2025), respectively. In the same year, India's nominal GDP was 3.1 times Saudi Arabia's. These figures contextualise market size; they do not by themselves describe well-being, individual wealth or political influence. IMF estimates or population extrapolations retain their labels in the table. No ratio is calculated when periods do not match. [4] [5] [6] [7]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
The April 2025 meeting
The official list documents the visit's outcomes and the Council's continuity. These are instruments and priorities requiring subsequent sectoral implementation. The 2025 economic values reveal another dimension of activity without turning investment announcements into already recorded capital. The relationship combines government and private channels, with periods and actors that must not be mixed. [1]
Observed economic exchange
In 2025, recorded goods trade between India and Saudi Arabia totalled 42,047 million USD. Shipments from India to Saudi Arabia were 10,790.2 million USD; those in the reverse direction were 31,256.8 million USD. India's shipments to the partner represented 2.42% of its goods exports to the world, using the same year and reporter. A single customs reporting source is used for both directions. This annual flow does not include all services activity or affiliates' local sales and is not added to accumulated investment capital. [3]
Milestones and consequences
Sources and data
Periods and scope of the figures
Each figure retains its period, unit, definition and source. Announcements, contracts and results are not interchangeable. Empty cells do not mean zero. Customs data for 2025 are not presented as activity observed during later crises.
- Strategic Partnership Council outcomes
India's Press Information Bureau · Institutional source · Document: 2025-04-22 · Accessed: 2026-10-07
- Economic and trade relationship
Embassy of India in Riyadh · Institutional source · Accessed: 2026-10-07
- Annual TOTAL X/M; 2025; reporter 699; partners 0,392,36,784,682,376,364,50,524,144,360,704
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- HS2 27; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- HS2 30; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- HS2 84; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- HS2 85; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- HS2 87; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 27; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 87; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 84; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 85; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 30; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.