‘New chapter in India-Saudi ties’: What transpired between PM Modi and Crown Prince upon meet?

The meeting evaluated the progress made by the two ministerial committees under the Strategic Partnership Council: The Political, Security, Social and Cultural Cooperation Committee and the Economy and Investments Cooperation Committee.

New Delhi: Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud was accorded a ceremonial reception at the Rashtrapati Bhavan on Monday. In a significant display of diplomatic collaboration, Prime Minister Narendra Modi and Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud's meeting marked reinforcement of their nations' multifaceted partnership. The three-day state visit, commencing with the G20 Summit, has underscored trade, economy, defence, and cultural cooperation as the central themes of discussion.

Opening a “new chapter in the India and Saudi Arabia ties”, PM Modi welcomed the Saudi Crown Prince at the Hyderabad House for the bilateral. Saudi Prince duly reciprocated. “I am very glad to be here in India. I want to congratulate India for the G20 Summit...A lot of announcements have been made that will benefit G20 countries and the world. We will work together to create a great future for both countries," said Salman.

External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval and others attended the meeting. The Saudi Crown Prince then inspected a combined defence services Guard of Honour. In a brief statement, Mohammed bin Salman congratulated India for a successful G20 presidency. Speaking to reporters, he said, "Well done India, a lot of announcements made that will benefit both our countries, the G20 countries and the whole world. So I want to say to India well done, and we will work to create a future for both countries."

The high-profile meeting, which was held at Delhi's Hyderabad House, featured the co-chairing of the First Leaders' Meeting of the Strategic Partnership Council—a landmark bilateral agreement forged by India and Saudi Arabia in Riyadh back in 2019. The meeting evaluated the progress made by the two ministerial committees under the Strategic Partnership Council: The Political, Security, Social and Cultural Cooperation Committee and the Economy and Investments Cooperation Committee.

Additionally, the leaders discussed facets of their bilateral relations, encompassing political alliances, security arrangements, defence collaborations, trade ties, economic partnerships, cultural exchanges, and indispensable people-to-people connections. The discussions also extended to regional and global topics of mutual interest, as per a government release.

PM Narendra Modi said the mega-deal would give a sustainable direction to connectivity and sustainability across the world. Earlier, Saudi Arabia's Crown Prince visited India on a State visit in February 2019 and the current visit is his second State visit to the country. "India and Saudi Arabia have historically close and friendly relations with extensive people-to-people contacts. The trade between both countries reached all-time high of USD 52.75 billion in FY 2022-23, the Ministry of External Affairs (MEA) said in an earlier press release. India is Saudi Arabia’s second-largest trading partner whereas Saudi Arabia is India’s fourth-largest trading partner. Both countries also have a strong partnership in the area of energy, according to an MEA statement released earlier.

India and Saudi Arabia, with their deep-rooted people-to-people connections, share a long-standing history of amicable and cooperative relations. Notably, bilateral trade between these two nations scaled new heights, reaching a record-breaking USD 52.75 billion during the fiscal year 2022-23.

During Prime Minister Modi's 2019 visit to Riyadh, the emphasis on defence cooperation was evident, with both nations establishing the Joint Committee on Defence Cooperation (JCDC). This committee holds regular meetings, fostering a growing synergy in the fields of defence and security.

Not only are India and Saudi Arabia significant diplomatic allies, but they also boast robust economic ties. India stands as Saudi Arabia's second-largest trading partner, while Saudi Arabia holds the fourth position in India's list of trading partners. The energy sector has emerged as a cornerstone of their partnership, with India substantially relying on oil imports from Saudi Arabia.

The Saudi Crown Prince will also visit Droupadi Murmu at Rashtrapati Bhavan, prior to his departure from New Delhi at 8:30 PM. During the two-day G20 Summit in New Delhi, Saudi Arabia joined as one of the signatories to the ambitious India-Middle East-Europe Economic Corridor. This visionary initiative, often viewed as a potential alternative to China's Belt and Road Initiative, was jointly unveiled by Prime Minister Modi and leaders from the United States, Saudi Arabia, the United Arab Emirates, France, Germany, Italy, and the European Union on the side-lines of the G20 summit. If successfully realized, this colossal project could serve as a modern-day Silk Road, mirroring the historic trade route that facilitated economic cooperation, political alliances, and cultural integration across continents.

In essence, the State visit of Crown Prince Mohammed bin Salman Al Saud has reaffirmed India and Saudi Arabia's commitment to strengthening their multifaceted partnership, spanning the realms of politics, economics, defence, and culture. The visit also showcased their joint ambition to forge new avenues of collaboration, as exemplified by their participation in the India-Middle East-Europe Economic Corridor—a testament to their shared vision for a more interconnected world.