Indian Minister to Asharq Al-Awsat: We Expect Steady Growth in Tourism Between New Delhi and Riyadh

Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan holding talks with India’s Minister of Tourism and Culture Gajendra Singh Shekhawat,X)
Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan holding talks with India’s Minister of Tourism and Culture Gajendra Singh Shekhawat,X)
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Indian Minister to Asharq Al-Awsat: We Expect Steady Growth in Tourism Between New Delhi and Riyadh

Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan holding talks with India’s Minister of Tourism and Culture Gajendra Singh Shekhawat,X)
Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan holding talks with India’s Minister of Tourism and Culture Gajendra Singh Shekhawat,X)

India’s Minister of Tourism and Culture Gajendra Singh Shekhawat said he was optimistic about the future of tourism ties between his country and Saudi Arabia, saying that many young Saudis choose India as a favored tourist destination, while a good number of Indian tourists traveled to Saudi Arabia last year, expecting further steady growth in this movement over the coming years.

Building on this, he affirmed his country’s commitment to establishing broad practical cooperation with Riyadh, covering key sectors including economy, culture, and tourism. He also highlighted a set of challenges facing the global tourism sector, calling for joint governmental efforts to strengthen its resilience and adopt sustainability principles.

Speaking to Asharq Al-Awsat on the sidelines of the UN Tourism 26th General Assembly in Riyadh, the Indian minister said that global tourism is undergoing a major transformation that requires “stronger collaboration between governments and industry to enhance resilience, embrace sustainability, and ensure benefits are shared widely.” He looked forward to launching future joint production projects and initiatives with Saudi Arabia.

On this occasion, he congratulated Saudi Arabia for their successful hosting of the Assembly this year, noting that he had seized the opportunity to interact with his counterpart Ministers in Tourism and Culture during the visit, and to visit some prominent historical and cultural sites in the Kingdom.

Challenges Facing the Sector

The Indian minister acknowledged that the global tourism sector is going under a period of adjustment and facing multiple interconnected challenges, while international travel has rebounded post-pandemic, with many destinations still suffering from staff shortages, limited air connectivity, and uneven business recovery.

He added that climate change continues to pressure the sector to adopt sustainable practices, while geopolitical tensions and safety concerns affect traveler confidence. Tourists increasingly seek meaningful, tech-driven, and eco-conscious experiences, prompting destinations to rethink their travel offerings. Popular destinations face over-tourism, whereas emerging ones often lack the infrastructure for responsible growth. Persistent issues also include skills shortages, slow digital adoption among smaller operators, and the need for more inclusive and accessible tourism.

Tourism’s Economic Contribution

Regarding the size and economic contribution of tourism in India, and the steps taken by the Indian government to attract more foreign tourists, Shekhawat said that India is a prominent tourist destination and has shown consistent growth over the last few years.

He added that tourism contributes about 5% of the total GDP and supports close to 80 million direct and indirect jobs, serving as a principal source of foreign exchange earnings.

Shekhawat noted that his government has launched comprehensive reforms and focused investments to grow the tourism sector, including visa reforms, destination development, emphasis on healthcare and wellness tourism, and international partnerships.

He confirmed that India has opened the e-visa process where Saudi nationals can apply online and receive tourism visa within 72 hours.

India–Saudi Cooperation

Shekhawat emphasized that India and Saudi Arabia share deep-rooted cultural and historical ties based on centuries of exchange, trade, and people-to-people connections, stressing that cultural and tourism cooperation remain key pillars of our strategic partnership.

He said: “To further strengthen this bond, a Ministerial Committee on Tourism and Cultural Cooperation was established under the India–Saudi Arabia Strategic Partnership Council during the State Visit of Hon’ble Prime Minister of India to the Kingdom in April 2025.”

The Minister added: “During my current visit, I had a fruitful meeting with Saudi Minister of Culture, HH Prince Badr bin Abdullah bin Farhan Al-Saud and we also signed an MoU on Cultural Cooperation between our two countries. We discussed ways to enhance our cultural ties, promote exchanges between our cultural institutions, and intensify participation in each other’s cultural events and festival.”

Shekhawat concluded: “Many young Saudis choose India as a favored tourist destination, and a good number of Indian tourists traveled to Saudi Arabia last year. We expect these numbers to grow steadily over the coming years.”



Oil Rises on Concern Over Escalating Middle East Tensions

HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
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Oil Rises on Concern Over Escalating Middle East Tensions

HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP

Oil rose on Friday on concerns of a renewed military escalation in the Middle East after Iran released footage of commandos boarding a cargo ship in the Strait of Hormuz, and a lack of progress in re-opening the key waterway.

Navigation through the strait, which before the war carried about a fifth of global oil output, remains effectively blocked. Iran's capture of two cargo ships highlighted Washington's difficulties in trying to control the passage.

Brent crude futures were up $1.93, ⁠or 1.8%, to $107 a ⁠barrel at 0805 GMT, while US West Texas Intermediate futures were up 76 cents, or 0.8%, at $96.61, Reuters reported.

For the week, Brent is up 18% and WTI 15%, the second-largest weekly gains since the war began.

Both contracts settled more than 3% higher on Thursday after reports that air defenses were engaging targets over Tehran and of a ⁠power struggle between Iran's hardliners and moderates.

"There is no de-escalation in sight," said Tamas Varga of oil broker PVM.

US President Donald Trump said Iran may have loaded up its weaponry "a little bit" during a two-week ceasefire, but added that the US military could eliminate it in a single day. On Wednesday, he said he would indefinitely extend the ceasefire to allow for further peace talks.

The ceasefire is increasingly looking like a preparatory phase for more war, Haitong Futures said in a report. If peace talks fail to make ⁠progress by ⁠the end of April and fighting resumes, oil prices could climb to new highs for the year, it added.

"There's set to be fresh financial pain ahead as key shipments from the region remain blocked," said Susannah Streeter, chief investment strategist at UK investment service Wealth Club. "That is set to keep costs elevated for a vast array of commodities."

As investors and governments around the world look for a lasting peace, Trump said he would not set a "timetable" for ending the conflict and that he wanted to make "a great deal."

"Don't rush me," he said when asked how long he was willing to wait for a long-term deal.


Saudi Arabia, Switzerland Sign Agreement on Reciprocal Protection of Investments

The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA
The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA
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Saudi Arabia, Switzerland Sign Agreement on Reciprocal Protection of Investments

The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA
The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and Minister of Investment Fahad Al-Saif have participated in the Saudi-Swiss Investment Roundtable Meeting in Jeddah, which was followed by the signing of an investment agreement between the two countries.

The meeting took place in the presence of Swiss President Guy Parmelin, with the participation of State Secretary for Economic Affairs Helene Budliger Artieda, along with a large number of officials and business leaders from both sides.

During the meeting, the conferees reviewed joint investment opportunities, discussed ways to strengthen economic cooperation between the two countries, and explored the development of partnerships in priority sectors in a manner that supports economic growth and enhances relations.

The meeting was held on the sidelines of the Swiss President’s official visit to the Kingdom, as the two countries mark 70 years of diplomatic relations that have, from the outset, helped lay the foundations of cooperation and build a partnership based on mutual respect and the development of shared interests between the two states.

After the meeting, an agreement was signed between the Saudi government and the Swiss Federal Council on the promotion and reciprocal protection of investments.

It was signed on the Saudi side by Al-Saif, and on the Swiss side by Parmelin.

The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries.

The meeting was attended by Saudi Ambassador to Switzerland and the Principality of Liechtenstein Abdulrahman Aldawood.


US Stocks Dip on Mixed Earnings as Markets Monitor Iran

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026.  (Photo by ANGELA WEISS / AFP)
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. (Photo by ANGELA WEISS / AFP)
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US Stocks Dip on Mixed Earnings as Markets Monitor Iran

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026.  (Photo by ANGELA WEISS / AFP)
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. (Photo by ANGELA WEISS / AFP)

Wall Street stocks retreated from records early Thursday as markets digested a trove of mixed earnings reports and monitored the latest dynamics between the United States and Iran.

Analysts cited profit-taking after both the S&P 500 and Nasdaq shrugged off a jump in oil prices to finish at records on Wednesday.

About 10 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 49,311.39, AFP reported.

The broad-based S&P 500 dipped 0.2 percent to 7,126.19, while the tech-rich Nasdaq Composite Index declined 0.3 percent to 24,588.07.

David Morrison, senior market analyst at FCA, called Thursday's early trading action "a mild bout of profit-taking triggered by some worrying reports of hostile action between the US and Iran," according to a note.

The US Defense Department said its forces boarded a vessel in the Indian Ocean that was transporting oil from Iran, while President Donald Trump announced on social media that he ordered the Navy to "shoot and kill" boats placing mines in the Strait of Hormuz.

Iran vowed it would keep the strait closed to all but a trickle of approved vessels for as long as the United States blockaded its ports.

Among companies reporting results, Tesla fell 1.7 percent and Lockheed Martin dropped 3.7 percent, while American Airlines jumped 4.9 percent.