RIYADH: Saudi Arabia and India have agreed to cooperate in several fields, including defense industries, and exploring joint projects in refineries and petrochemicals, according to a joint statement issued on Wednesday.
The two countries agreed to boost cooperation in the energy sector, including in the supplies of crude and liquefied petroleum gas, the Saudi Press Agency reported.
The statement, which was released after a short visit to the Kingdom by Indian Prime Minister Narendra Modi, emphasizes their shared stances on several issues.
They agreed on the importance of enhancing cooperation and coordination between the two countries in international organizations and forums, including the G20, the International Monetary Fund and the World Bank, to support efforts to address the challenges facing the global economy.
They also welcomed the expansion of the Saudi-Indian Strategic Partnership Council to four ministerial committees.
The statement also said the Saudi and Indian leaders shared their views on several regional issues, including Yemen.
The two sides affirmed their full support for international and regional efforts at reaching a comprehensive political solution to the crisis in Yemen. The Indian side appreciated the Kingdom’s efforts and initiatives to encourage dialogue and reconciliation among the Yemeni parties.
The Indian side also expressed its appreciation to the Kingdom for its continued care of 2.7 million Indian citizens living in the Kingdom, which reflects the strong ties between the two peoples.
A press briefing on Tuesday was attended by Aseem Mahajan, additional secretary in the Gulf; Randhir Jaiswal, spokesperson of the Ministry of External Affairs; and Dr. Suhel Ajaz Khan, ambassador of India to Saudi Arabia.
Touching on the proposed India-Middle East-Europe Economic Corridor intended to boost trade, Khan said: “Both the leaders agreed that it is a vision which is beneficial to everyone in the region.”
Khan emphasized the progress made since the IMEC’s launch in 2023, with Saudi Arabia and India, along with other global partners, that are committed to enhancing infrastructure, including railways and port links.
“This corridor will increase the passage of goods and services, boosting trade across regions," he added.
Mahajan also addressed the growing educational and scientific collaboration between the two nations, citing “institutional linkages which are growing” on establishing joint programs at tertiary and other levels.
Saudi Arabia and India also signed four agreements on space, health, anti-doping and postal services, involving the two nations’ regulatory and umbrella bodies.
Additionally, there was a joint commitment to develop two oil refineries in India, and agreements to advance collaboration on taxation to encourage investment.
The two nations have also agreed to continue joint programs on clean energy, specifically in electrical interconnections and green hydrogen, with a feasibility study underway to develop grid connectivity.
Khan reaffirmed Saudi Arabia’s position as India’s fourth-largest trading partner. “The trade issue was definitely discussed, and both sides are committed to enhancing and diversifying trade,” he said.
Before the press briefing, Modi engaged with a large gathering of people from the Indian community, who gave him a warm and enthusiastic reception.
The event featured dancers showcasing Kathak, a traditional Indian dance form.
