India After having participated in the India G20 Leaders’ summit in New Delhi, Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud on Monday held extensive talks with Prime Minister Narendra Modi and discussed shoring up bilateral trade and defense ties. Both leaders also co-chaired the first meeting of the India-Saudi Arabia Strategic Partnership Council (SPC)
During the meeting, PM Modi highlighted the importance of the India-Saudi Arabia partnership, which is “crucial for stability and welfare of the region and the world.
The US, Saudi Arabia, and the European Union had on Saturday also announced an agreement to launch the mega India-Middle East-Europe shipping and rail connectivity corridor. PM Modi along with US President Joe Biden, Saudi Crown Prince, and EU leaders made the announcement for the new project on the sidelines of the G20 summit.
PM Modi, while speaking about the mega project at the Bharat Mandapam, had said that it would give a sustainable direction to connectivity and sustainability across the world and congratulated all the leaders associated with the connectivity corridor.
Meanwhile, the Crown Prince while speaking at the same event said, “We look forward to the integration of the initiative and the Economic Corridor project which is announced in this meeting. I would like to thank those who worked with us to reach this founding step to establish this important economic corridor…”
India views Saudi Arabia as one of its most important strategic partners in the Middle East. Trade between the countries stood at over $52.8 billion in the fiscal year 2022-2023.