Prime Minister Narendra Modi's Visit to Saudi Arabia
Prime Minister Narendra Modi is set to visit Saudi Arabia on April 22-23, marking his first visit in his third term. This visit is crucial as it falls ahead of US President Donald Trump's expected May visit.
Key Agenda
- Trade and investments
- Energy cooperation
- Reviving the IMEEC (India-Middle East-Europe Corridor)
- Defence partnership discussions
Context of Visit
The visit comes at a time when the US is engaging with Iran, and regional tensions have impacted the ambitious IMEEC project. India aims to engage with regional partners to restore stability.
India-Saudi Arabia Relations
- Energy Security: Saudi Arabia is India's third largest source of crude oil and LPG.
- Trade: Bilateral trade in 2023-24 was US$ 42.98 billion, with India as Saudi Arabia's second-largest trading partner.
- Investments: Indian investments in Saudi Arabia reached approximately US$ 3 billion, while Saudi investments in India were about US$ 10 billion.
Defence Ties
- Strengthened defence cooperation with ministerial visits and naval exercises.
- Maritime cooperation includes the bilateral naval exercise, ‘Al Mohed Al Hindi’.
Diplomatic Insights
The visit will also include discussions on mediation in US-Russia-Ukraine talks and other regional geopolitical issues. This highlights the strategic importance of India-Saudi Arabia relations amidst global tensions.
