India, Saudi plan state visit by Prince Mr. Md Bin Salman post G20 summit
- IBEF
- August 28, 2023
India is in discussions with Saudi Arabia about hosting Crown Prince Mr. Md Bin Salman for a state visit immediately following the G20 summit next month. Mr. Salman, who has great chemistry with Prime Minister Mr. Narendra Modi, last visited India in 2019. Senior officials from both sides are currently discussing the visit and its potential outcomes.
Saudi Arabia's deputy minister for political and economic affairs, Mr. Saud Al-Sati, met with the ministry of external affairs secretary in charge of the Arab world, Mr. Ausaf Sayed to discuss the details of the visit. Mr. Al-Sati was previously the Saudi ambassador to India. On September 9-10, the crown prince will attend the G20 Summit.
The trip's agenda will be dominated by investments and other aspects of the strategic partnership. Saudi Arabia was welcomed as a new member of the BRICS group at the Johannesburg meeting.
Mr. Salman spoke with Mr. Modi via phone in June to go over several aspects of the cooperation. In recent years, India-Saudi relations have grown significantly, with increased defence collaboration and Saudi investment in India.
It should be noted that Prime Minister Mr. Narendra Modi's visits to the kingdom in 2016 and 2019, as well as Mr. Salman's state visit to India in February 2019, heralded a new era in bilateral relations, culminating in the establishment of Strategic Partnership Council (SPC), co-chaired by the two leaders. The SPC is a comprehensive entity that spans multiple sectors of cooperation and complements the Joint Working Commission's current institutional procedures. The economic and investment pillar is made up of four JWGs: industry and infrastructure, agricultural and food security, information technology and technology, and energy.
As one of India's main suppliers of crude oil and LPG, Saudi Arabia is crucial to the country's energy security.
Bilateral trade was worth US$ 42.8 billion in 2021-22. In recent years, Indian investments in the kingdom have increased to over US$ 2 billion, while Saudi investments in India have increased to over US$ 3 billion.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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