Prime Minister's Visit to Saudi Arabia
Prime Minister arrived in Jeddah for a two-day visit, invited by Crown Prince Mohammed bin Salman, focusing on energy, defense, IMEC, and investment ties.
Highlights of the Visit
- Royal Escort: The Royal Saudi Air Force's fighter jets escorted Modi's aircraft into Saudi Airspace, marking a special honor.
- Community Reception: The Indian community in Saudi Arabia welcomed Modi at his hotel.
India Middle East Europe Economic Corridor (IMEC)
- Significance: Modi emphasized the “limitless potential” of IMEC as a catalyst for commerce and growth.
Bilateral Relations
- Strategic Partnership Council: Since its creation in 2019, India's relations with Saudi Arabia have significantly expanded.
- Key Sectors: Growth in trade, energy, agriculture, and fertilizers despite global challenges.
Saudi Arabia's Vision 2030
- Leadership: Modi praised Crown Prince Mohammed bin Salman for his visionary reforms under Vision 2030.
Energy and Economic Ties
- Crude Oil Supplies: Saudi Arabia, a top crude supplier to India, may offer concessional rates to increase its market share amid a slowdown in China.
- Renewable Energy: Opportunities for collaboration in emerging sectors like green hydrogen and technology.
Commitment to Regional Stability
- Shared Goals: Both nations are committed to promoting regional peace, prosperity, security, and stability.
