Commerce, financial system, defence, and cultural cooperation are the principle subjects of debate between Prime Minister Narendra Modi and Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud in the course of the latter’s State go to right now.
The Saudi Crown Prince arrived in Delhi for a three-day tour which started with the G20 Summit within the nationwide capital.
Through the high-profile assembly right now at Delhi’s Hyderabad Home, the 2 leaders will co-chair the First Leaders’ Assembly of the Strategic Partnership Council, a bilateral settlement between India and Saudi Arabia signed by the 2 nations in Riyadh in 2019.
The leaders will assess the progress of the 2 ministerial committees of the Strategic Partnership Council, specifically the Political, Safety, Social and Cultural Cooperation Committee and the Financial system and Investments Cooperation Committee. They may even talk about all facets of bilateral relations, together with political, safety, defence, commerce, financial system, tradition, and people-to-people ties. Moreover, they may talk about regional and worldwide problems with mutual curiosity, a authorities launch said.
India and Saudi Arabia have a protracted historical past of cordial and cooperative relations, with in depth people-to-people ties. In response to authorities information, bilateral commerce between the 2 international locations reached an all-time excessive of USD 52.75 billion in fiscal 12 months 2022-23.
PM Modi throughout his 2019 go to to Riyadh had stated that India and Saudi Arabia have a Joint Committee on Defence Cooperation (JCDC) that meets frequently and that the 2 international locations have recognized quite a few areas of mutual curiosity and cooperation within the subject of defence and safety.
The 2 financial powerhouses are additionally main buying and selling companions. India is Saudi Arabia’s second-largest buying and selling accomplice, whereas Saudi Arabia is India’s fourth-largest. The 2 international locations have a powerful partnership within the power sector, with India importing a major quantity of oil from Saudi Arabia.
The Saudi Arabian Crown Prince can be accorded a ceremonial reception at Rashtrapati Bhavan at 10 am, forward of his assembly with PM Modi at 11 am.
After concluding his engagements with PM Modi and different dignitaries, Prince Salman will meet President Droupadi Murmu at Rashtrapati Bhavan at 6:30 PM earlier than departing from New Delhi at 8:30 PM.
That is Prince Salman’s second State go to to India.
Through the two-day G20 Summit in New Delhi, Saudi Arabia was one of many signatories to the formidable India-Center East-Europe Financial Hall.
The initiative, seen by many as a possible different to China’s Belt and Highway Initiative, was collectively introduced by PM Modi and the leaders of america, Saudi Arabia, the United Arab Emirates, France, Germany, Italy, and the European Union on the sidelines of the G20 summit.
As soon as accomplished, the undertaking can function a modern-day Silk Highway that functioned because the central commerce route facilitating financial partnerships, political alliances, and cultural integration throughout continents.