Saudi Crown Prince Mohamed bin Salman, Indian PM Modi to meet: Trade, connectivity, defence on agenda

Saudi Arabia’s Crown Prince Mohamed bin Salman who is also the country’s Prime Minister is in New Delhi for a three-day tour which began with the G20 Summit in the national capital. He is scheduled to meet India’s Prime Minister Narendra Modi as part of the state visit today.

Mohamed bin Salman had earlier visited India on a State Visit in February 2019, and this is his second such visit to India. He is accompanied by a high level delegation, including senior ministers and officials.

HRH Crown Prince arrives at the headquarters of the #G20 summit and is received by the Prime Minister of the Republic of #India.#SPAGOV pic.twitter.com/NCcS7MSNh7

— SPAENG (@Spa_Eng) September 9, 2023

This visit follows PM Modi’s visit to Riyadh in October 2019 during which the two countries established the Strategic Partnership Council. The India-Saudi Arabia Strategic Council meet will be held at New Delhi’s Hyderabad House. The two leaders will co-chair the First Leaders’ Meeting of the Strategic Partnership Council.

Trade, economy, defence, and cultural cooperation are the main topics on the agenda for the bilateral meet between Crown Prince Mohammed bin Salman and PM Modi.

They will additionally review the progress made under the two Ministerial Committees of the Strategic Partnership Council i.e. the Committee on Political, Security, Social and Cultural Cooperation and the Committee on Economy and Investments Cooperation. They will discuss all aspects of bilateral relations including political, security, defence, trade and economic, cultural and people-to-people ties. Both the leaders will also discuss the regional and international issues of mutual interest.

India – Middle East – Europe corridor

The G20 Summit saw the announcement of a landmark trade deal that creates a multinational rail and ports link through the Middle East and South Asia to the European continent. The India-Middle East-Europe Economic Corridor agreement was announced on Saturday at the first day of the G20 summit in New Delhi.

Prime Minister @narendramodi addresses the Partnership for Global Infrastructure & Investment (PGII) & the India-Middle East-Europe Economic Corridor event during the #G20Summit in New Delhi. #G20India #G20India2023 @g20org pic.twitter.com/n7FLjvJtVP

— PIB India (@PIB_India) September 9, 2023

The US, EU, Saudi Arabia, UAE, India and other G20 partners agreed to explore a shipping corridor project to augment trade between Europe, Middle East and India. It aims to link Middle East countries by railway and connect them to India by port, helping the flow of energy and trade from South Asia through the Gulf to Europe.

Saudi Arabia – India trade

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 $52.75bn in FY 2022-23. 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. There is a vibrant Indian community of around 2.4 million in Saudi Arabia. Their contribution towards the development of the host country and role as bridges to deepen the multifaceted ties between the two countries is highly appreciated. The kingdom also facilitates Hajj pilgrimage of over 175,000 Indians every year.