PM Modi and Crown Prince of Saudi Arabia discussed India-Saudi Arabia Strategic Partnership: Prime Minister Narendra Modi held talks with Crown Prince and Prime Minister of Saudi Arabia, Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud, on 11 September in New Delhi. The presidents discussed a variety of bilateral issues, including how to strengthen the India-Saudi Arabia Strategic Partnership.
Daily Current Affairs Quiz: September 2023
The economic corridor is expected to boost economic growth and digital connectivity across Asia, West Asia, and Europe.
- Both leaders co-chaired the first Meeting of the India-Saudi Arabia Strategic Partnership Council (SPC) and signed the minutes of the meeting.
- The Crown Prince’s visit is part of a three-day state visit to India, during which he will attend the 18th G20 Summit.
- India and Saudi Arabia have strong economic and socio-cultural ties, with India being the second-largest trade partner for Saudi Arabia and Saudi Arabia the fourth-largest trading partner for India.
- Bilateral trade between the two countries during the Financial Year 2022-23 was valued at over $52 billion, and Saudi direct investments in India exceeded $3 billion.
- Energy cooperation is a significant aspect of their relationship, with Saudi Arabia playing a crucial role in ensuring India’s energy security. During the fiscal year 2022-23, it remained India’s third-largest source of crude and petroleum products.
