The economic landscape of Saudi Arabia is undergoing a significant transformation, presenting a complex mix of opportunities and challenges for India. This shift, characterized by the Kingdom’s decreasing reliance on oil, has seen non-oil sources making up almost half of its gross domestic product (GDP). This diversification away from oil heralds a new era of potential collaboration and competition within the region and beyond.
‘Saudi Arabia’s evolving economy could reshape many geopolitical dynamics across the Middle East and broader Asia.’
Despite the rising influence of Western corporations, which represent a substantial portion of investment in Saudi Arabia, China remains one of the most aggressive and fastest-growing investors on a country-specific basis. The sectors targeted by Saudi Arabia for growth are well aligned with India’s own investment priorities, sparking concerns about direct competition.
- Oil’s diminishing role in Saudi Arabia’s economy
- The impact of Saudi’s economic changes on geopolitical relations
- China’s burgeoning investments in Saudi Arabia
- Competition between India’s investment interests and Saudi’s growth sectors