India-Saudi Partnership Crucial for World Stability”: PM Modi Tells Prince Salman

Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud embarked on his second State visit to India, commencing with his participation in the G20 Summit in the national capital.

Key Points:

1. Strategic Partnership Focus: Prime Minister Narendra Modi and Crown Prince Mohammed bin Salman Al Saud convened a high-profile meeting at Delhi’s Hyderabad House, co-chairing the inaugural leaders’ meeting of the Strategic Partnership Council, a bilateral agreement established in Riyadh in 2019.
2. Crucial Partnership: Prime Minister Modi emphasized the significance of the India-Saudi Arabia partnership, highlighting its role in maintaining regional and global stability and welfare. He stated, “India-Saudi Arabia partnership crucial for stability, welfare of region and world.”
3. Expanding Ties: Both leaders acknowledged the evolving times and identified various initiatives to elevate their close partnership to new heights.
4. Committee Progress: The leaders assessed the progress of two ministerial committees under the Strategic Partnership Council, focusing on political, security, social, cultural cooperation, as well as economy and investments.
5. Comprehensive Discussions: Bilateral relations encompassing politics, security, defense, trade, economy, culture, and people-to-people ties were thoroughly discussed. Additionally, they delved into regional and international issues of mutual interest.
6. Ceremonial Reception: The Crown Prince received a ceremonial reception at Rashtrapati Bhavan ahead of his meeting with Prime Minister Modi.
7. G20 Summit Signatory: During the G20 Summit, Saudi Arabia joined as a signatory to the India-Middle East-Europe Economic Corridor, viewed by many as an alternative to China’s Belt and Road Initiative. PM Modi and global leaders jointly announced this initiative, focusing on economic growth and digital connectivity.
8. Modern Silk Road: PM Modi likened the corridor to a modern-day Silk Road, connecting Asia, West Asia, and Europe, facilitating economic growth, political cooperation, and cultural integration across continents.
9. Vision 2030: Prime Minister Modi commended Saudi Arabia’s ‘Vision 2030’ initiative, a comprehensive reform program launched in 2016, which has spurred substantial economic growth and development.
10. Strong Bilateral Ties: India and Saudi Arabia enjoy a long history of cooperative relations, including extensive people-to-people connections. Bilateral trade reached an all-time high of USD 52.75 billion in the fiscal year 2022-23.
11. Defense Cooperation: The two nations maintain a Joint Committee on Defense Cooperation (JCDC), focusing on areas of mutual interest and collaboration in defense and security.
12. Energy Partnership: India is Saudi Arabia’s second-largest trading partner, while Saudi Arabia ranks as India’s fourth-largest trading partner. Energy cooperation, particularly oil imports, plays a pivotal role in their partnership.

Prince Salman is scheduled to meet President Droupadi Murmu at Rashtrapati Bhavan before departing from New Delhi.

This visit underscores the deepening ties between India and Saudi Arabia, with a focus on economic growth, strategic collaboration, and cultural exchange.

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