PM to embark on key 2-day Saudi Arabia visit

Amid a volatile global economic and security landscape, Prime Minister Narendra Modi will embark on a key two-day visit to Saudi Arabia — a leading voice in the Islamic world — with the two countries expected to deepen cooperation in areas including energy, defence and regional security.

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In an hour-long press conference, Foreign Secretary Vikram Misri said the PM would be travelling to Saudi Arabia from April 22 to April 23.

Misri said the PM’s engagements will take place in Jeddah, where he will hold a bilateral meeting with Saudi Crown Prince Mohammed bin Salman. The two leaders will also co-chair the second meeting of the India-Saudi Arabia Strategic Partnership Council.

A series of MoUs are expected to be signed during the visit, including a possible agreement on green hydrogen cooperation. Modi will also visit a factory in Jeddah that employs Indian workers — part of a vibrant Indian diaspora community in Saudi Arabia, currently estimated at 2.7 million.

Misri emphasised the strong trade and energy ties between the two nations. Saudi Arabia is India’s fifth-largest trading partner and its third-largest crude and petroleum products supplier. In FY 2023-24, India imported 33.35 MMT of crude oil from Saudi Arabia, accounting for 14.3 per cent of its total crude imports. The kingdom was also India’s third-largest LPG source, meeting 18.2 per cent of the country’s LPG needs.

Bilateral trade figures for FY 2023-24 stood at $31.42 billion in imports and $11.56 billion in exports. Major Indian exports to Saudi Arabia include engineering goods, rice, petroleum products, chemicals, textiles, food items and ceramic tiles. Imports from Saudi Arabia comprise crude oil, LPG, fertilisers, plastics and chemicals. Total Saudi investments in India — including those from the Public Investment Fund (PIF), Saudi companies and the Vision Fund — amount to $10 billion.

On regional developments, Misri said the ongoing Houthi attacks in the western Indian Ocean will be discussed during the visit. He acknowledged the Indian Navy’s efforts in safeguarding merchant shipping in the region.

He also reaffirmed that the India-Middle East-Europe Economic Corridor (IMEC), launched at the G20 summit in New Delhi in 2023, remains on track despite regional tensions. IMEC — a strategic connectivity initiative backed by India, Saudi Arabia, the UAE, the US and the EU — is seen as a potential counter to China’s Belt and Road Initiative.

Misri said Saudi Arabia plays a crucial role in regional development. He also criticised Pakistan for using the Organisation of Islamic Cooperation (OIC) platform to push “anti-India” rhetoric. The OIC’s general secretariat is headquartered in Jeddah.