Indian PM Narendra Modi hosted Saudi Crown Prince and PM Mohammed bin Salman (MBS) in New Delhi on 11 September for a State Visit.
The Saudi Crown Prince stayed back in Delhi after participating in the G20 Summit from 8-10 September, during which the historic India-Middle East-Europe mega economic corridor (IMEC) was announced.
The Visit
The Saudi Crown Prince was given a ceremonial welcome at the Rashtrapati Bhawan and attended the banquet dinner hosted by Indian President Droupadi Murmu.
During the meeting with MBS, the Indian president called Riyadh one of India’s “most strategic partners” and highlighted the two countries’ shared cultural experiences and economic synergies.
Modi and MBS met at the Hyderabad House in Delhi and exchanged views on regional and international issues during their official talks.
A joint statement was released after their meeting as well.
Attended the ceremonial welcome in honour of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud. India looks forward to deepening ties with Saudi Arabia across a wide range of sectors. pic.twitter.com/JRe9uuYcYH
— Narendra Modi (@narendramodi) September 11, 2023
Energy Supplies
The joint statement said the two sides highlighted “energy cooperation as an important pillar of the strategic partnership between the two countries.”
The Saudi side ensured that it is committed to being a reliable partner and exporter of crude oil supplies to India.
The two leaders agreed to establish a joint task force to fast-track the West Coast refinery project.
They also co-chaired the first meeting of the India-Saudi Strategic Partnership Council (SPC) where the Crown Prince congratulated the launching of the IMEE.
Economic Ties
The two sides recognised the importance of trade in their bilateral relationship, which increased by 23% to more than $52 billion in 2022-23.
They noted that India is the second-largest trade partner of Saudi Arabia, while Saudi Arabia is India’s fourth-largest trade partner.
Furthermore, New Delhi and Riyadh agreed to explore opportunities for cooperation in payment systems, including acceptance of the RuPAY card in the Gulf nation.
MoUs on Energy, Digitisation
Several MoUs were signed during the visit, including an agreement on cooperation in the energy sector.
The Saudi Ministry of Communication and IT of Saudi Arabia and the Ministry of Electronics and Information Technology of India signed an MoU in digitisation and electronic manufacturing.
MoUs on corruption and archival cooperation were also signed. Invest India and the Ministry of Investment of Saudi Arabia signed an agreement to enhance bilateral investment between the two entities.
Apart from an MoU between Saudi EXIM Bank and EXIM Bank of India, an MoU for establishing the Small and Medium Enterprises Bank was signed between SIDBI and SME Bank of Saudi Arabia.
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud and I had very productive talks. We reviewed our trade ties and are confident that the commercial linkages between our nations will grow even further in the times to come. The scope for cooperation in grid… pic.twitter.com/UalSTDmrTY
— Narendra Modi (@narendramodi) September 11, 2023
The National Institute of Technology of India and the Saline Water Conversion Corporation of Saudi Arabia also signed an MoU on seawater desalination.
Terrorism, Defence
Both sides stressed the importance of strengthening security cooperation in combating terrorism. They rejected any attempt to link terrorism to any particular race, religion or culture.
“Both sides emphasised that terrorism, in all its forms, remains one of the gravest threats to humanity,” the joint statement said, adding that “they also agreed on continuing to consider possibilities of joint development and production of defence equipment.”
Palestine, Afghanistan, Yemen
During the meeting, both sides expressed their hope to guarantee the legitimate rights of the Palestinian people based on UN Resolutions and the Arab Peace Initiative.
They stressed the importance of achieving security and stability in Afghanistan and affirmed their full support for efforts to solve the Yemen crisis.
Indians in Saudi, Operation Kaveri
The joint statement said, “The Indian side thanked the Saudi side for taking excellent care of more than 2.4 million Indians residing in the Kingdom.”
It also mentioned that the Indian side appreciated Saudi support during “Operation Kaveri,” in which Indian nationals stranded in conflict-torn Sudan were evacuated via Jeddah.
Meanwhile, the Saudi side expressed thanks to the Indian side for the restoration of e-visas for Saudi citizens.