Prime Minister Narendra Modi, regarding his second visit to Saudi Arabia, has conveyed that the relation with Saudi is valued by India. Apart from their Economic cooperation being strengthened, this trip will see to a more extended involvement of the two countries, in many other sectors such as security.
The purpose of the visit
The importance of this trip is immense in view of the fact that both the countries have an economic alliance and that Modi shares a personal rapport with the crown prince of Saudi Arabia, Mohammed Bin Salman. Modi will also be addressing the crowd at the Annual Saudi Arabia investor summit, Future Investment Initiative [FII].
In a conversation with the Arab News, the PM said that the two countries have been working jointly under the G20 in order to bring down inequality and encourage sustainable development . The alliance will be strengthened once the agreement is signed under the strategic partnership council, he added.
Modi on saudi
Saudi Arabia was praised by Modi for being an essential source meeting the energy requirements of India. The economic growth of a country depends on the stability of its oil prices, the PM added. He also mentioned that 18 percent of India’s crude oil is imported from Saudi, rendering India to be the second largest source of crude oil. Taking this relation further up a level will make it possible for Saudi to invest in future oil and gas projects and involvement of Aramco in India’s strategic petroleum reserves.
Collaboration on the security infrastructure front
The two countries have picked out common planes of interests when it comes to security and defense systems, and agreements on a collaborations on this front is being discussed. In fact both the countries have agreed for a comprehensive security dialogue to be held.
Investments from Saudi will be welcomed on the infrastructure front by India which will include the smart cities program as well.
Source: Indian Express
