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India to work with Saudi Arabia to enhance stability of global oil markets

24 Apr 2025
2 min

India-Saudi Arabia Bilateral Discussions and Agreements

Indian Prime Minister held delegation-level talks with the Crown Prince and Prime Minister of Saudi Arabia in Jeddah on April 23, 2025. A joint statement was released following the discussions.

Energy Cooperation

  • Both nations agreed to enhance the stability of global oil markets and balance energy market dynamics.
  • Emphasized ensuring security of supply for all energy sources.
  • Agreed to enhance cooperation in the energy sector, including crude oil supply and derivatives.
  • Focused on cooperation in green and clean hydrogen, including demand stimulation and technology exchange.
  • Acknowledged the need for developing supply chains and energy efficiency projects.

Climate Change Initiatives

  • Reaffirmed commitment to the United Nations Framework Convention on Climate Change and the Paris Agreement.
  • Emphasized climate agreements should focus on emissions rather than sources.
  • India supported Saudi Arabia's 'Saudi Green Initiative' and 'Middle East Green Initiative'.
  • Stressed joint cooperation to develop circular carbon economy applications.

Technology and Digital Governance

  • Agreed on cooperation in technology sectors including artificial intelligence, cybersecurity, and semiconductors.
  • Explored collaboration in digital governance.
  • Signed an MOU between the Telecom Regulatory Authority of India and Saudi's Communications, Space and Technology Commission.

Tourism and Cultural Exchange

  • Agreed to enhance cooperation in tourism, including capacity building and sustainable tourism.
  • Noted opportunities in media, entertainment, and sports, demonstrating strong people-to-people ties.

Regional Security and Humanitarian Efforts

  • Both sides supported efforts for a political solution to the Yemen crisis.
  • India appreciated Saudi Arabia's initiatives for dialogue and humanitarian aid access in Yemen.
  • Saudi appreciated Indian humanitarian efforts in Yemen.
  • Emphasized cooperation to ensure waterway security and navigation freedom under UNCLOS.

This visit marks PM's third visit to Saudi Arabia, following Crown Prince's visit to India in September 2023 for the G-20 Summit and Strategic Partnership Council meeting.

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