India and Saudi Arabia hold discussions to expand trade and defence ties

Prime Minister Narendra Modi and Saudi Arabian Crown Prince Mohammed bin Salman Al Saud jointly chaired the inaugural meeting of the India-Saudi Arabia Strategic Partnership Council (SPC)

September 12, 2023

During a joint press conference, Modi stated that Saudi Arabia was among India's most significant strategic allies

Saudi Arabia and India signed a bilateral agreement to enhance the investment climate in both countries during an ongoing investment meeting in New Delhi

Several Memoranda of Understanding (MoUs) were exchanged during the visit, covering various fields

Both Modi and Salman stressed the importance of enhancing cooperation in the fight against terrorism and its financin

This week, Prime Minister Narendra Modi and Saudi Arabian Crown Prince Mohammed bin Salman Al Saud engaged in discussions aimed at expanding bilateral trade and defence ties, characterising their partnership as crucial for the peace and stability of the region. 

They also jointly chaired the inaugural meeting of the India-Saudi Arabia Strategic Partnership Council (SPC).

During a joint press conference, Modi stated that Saudi Arabia was among India’s most significant strategic allies. He stated that both countries have identified several initiatives to elevate their partnership to the next level. 

Furthermore, Saudi Arabia and India signed a bilateral agreement to enhance the investment climate in both countries during an ongoing investment meeting in New Delhi. During the visit, several Memoranda of Understanding (MoUs) were exchanged, covering various fields such as energy, digitisation, anti-corruption efforts, archival cooperation, bilateral investment, and technical cooperation in areas like desalination.

Modi also highlighted the recently announced economic corridor that will link India with Europe through West Asia and mentioned that this corridor will not only connect India and Saudi Arabia but also facilitate economic growth and digital connectivity between Asia and Europe.

Last week, India and Saudi Arabia, along with the US, the European Union, the United Arab Emirates, and other nations, launched an initiative to connect railways, ports, electricity and data networks, as well as hydrogen pipelines.

Both Modi and Salman stressed the importance of enhancing cooperation in the fight against terrorism and its financing. 

The Strategic Partnership Council (SPC) was established in October 2019 during Modi’s visit to Riyadh. These recent talks followed ministerial meetings held in September in Riyadh. Salman emphasised the care and support provided to the Indian community in Saudi Arabia, considering them part of their society.

Source: Economic Times

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