Saudi Arabia launches new shipping route with India
This initiative aims to strengthen trade relations including petrochemicals
Dubai: A new shipping route has been introduced by a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), linking Jeddah with India’s major commercial centres.
Folk Maritime Services Co., which focuses on regular liner and feeder services, will connect Jeddah Islamic Port on the Red Sea with India’s key ports, Mundra and Nhava Sheva.
Starting in September, this new ten-day service, operated by two ships, aims to strengthen trade relations by facilitating the transport of goods, including petrochemicals, between Saudi Arabia and India, according to the Saudi Press Agency.
This development is a key part of Saudi Arabia's national strategy for transport and logistics services, which seeks to position the country as a prominent global logistics hub in alignment with Vision 2030.
Saudi Arabia is India's fourth-largest trading partner, while India is Saudi Arabia’s second-largest trading partner. Additionally, Saudi Arabia plays a crucial role in India's energy security and serves as an important partner for investment and technology transfer.
According to the general authority for statistics, Saudi Arabia’s exports to India reached $30.20 billion (Dh110 billion) in 2023, with imports from India totalling $11.6 billion (Dh42 billion).