India-Saudi ties key for regional, global stability: PM to Prince Salman

Energy security, trade and investment, defence and security, healthcare, food security, culture and community welfare were among the topics of discussion between Prime Minister Narendra Modi and Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud at Delhi’s Hyderabad House on Monday (September 11). The latter is on his second state visit to India.

The strategic partnership between India and Saudi Arabia is crucial for regional and global stability and welfare, the Prime Minister said during his talks with Al-Saud at the First Leaders’ Meeting of the Strategic Partnership Council. This bilateral agreement was signed by the two nations in Riyadh in 2019 to further increase cooperation in critical areas.

“New dimension to ties”

Describing Saudi Arabia as one of India’s most important strategic partners, Modi said both sides are adding new dimension to the ties in tune with the changing times. In his opening remarks at the meeting, Modi said several initiatives have been identified to take “our close partnership to the next level. Our relationship will get a new direction and energy in today’s meeting”.

Ahead of the talks at 11 am, the Crown Prince was accorded a ceremonial welcome at the forecourt of the Rashtrapati Bhavan at 10 am. “I am very glad to be here in India. I want to congratulate India for the G20 Summit,” Bin Salman told reporters after the ceremonial welcome.

The Saudi leader said the announcements made at the summit would benefit the world. “We will work together to create a great future for both the countries,” he said.

Saudi Arabia is one of India’s key strategic partners in the Middle-East. The overall relations between the two countries have witnessed a significant upward trajectory in the past few years. The two sides have also been focusing on strengthening their defence and security partnership.

All aspects discussed

During Monday’s meeting, the two leaders assessed the progress of the two ministerial committees of the Council — the Political, Security, Social and Cultural Cooperation Committee and the Economy and Investments Cooperation Committee.

All aspects of bilateral relations, including political, trade, economy, security, defence, culture, and people-to-people ties, came up for discussions. They also discussed regional and international issues of mutual interest.

The Crown Prince will meet President Droupadi Murmu at Rashtrapati Bhavan at 6.30 pm before leaving Delhi at 8.30 pm. This is his second state visit to India.

Saudi Arabia was one of the signatories to the ambitious India-Middle East-Europe Economic Corridor during the just-concluded G20 Summit in New Delhi. The initiative is being seen as a possible alternative to China’s Belt and Road Initiative.

The project was jointly announced by Modi and the leaders of the US, Saudi Arabia, the UAE, France, Germany, Italy, and the European Union on the sidelines of the G20 summit. It has the potential to serve as a modern Silk Road, a central trade route that facilitated economic partnerships, political alliances, and cultural integration across borders.

India-Saudi ties

India and Saudi Arabia have had a long history of cordial relations. Government data says bilateral trade between the two nations reached an all-time high of $52.75 billion in the 2022-23 fiscal. While India is Saudi Arabia’s second-largest trading partner, Saudi Arabia is India’s fourth-largest. India imports a significant amount of oil from Saudi Arabia.

India and Saudi Arabia have a Joint Committee on Defence Cooperation (JCDC) that meets regularly. PM Modi, during his 2019 visit to Riyadh, had said the two countries have identified several areas of mutual interest and cooperation in the field of defence and security.

The then Chief of Army Staff, Gen MM Naravane, visited Saudi Arabia in December 2020 in the first-ever visit by a head of the 1.3 million-strong army to the important Gulf nation. Since then, there have been a series of visits of high-ranking military officials between the two sides.