Prime Minister Narendra Modi and Saudi Crown Prince Mohammed bin Salman Al Saud held a historic first strategic meeting in New Delhi on September 11, 2023, on the sidelines of the G20 Summit. The meeting was described as “warm and productive” by both sides, and it resulted in the signing of a number of Memoranda of Understanding (MoUs) in areas such as energy, security, and trade.One of the key outcomes of the meeting was the announcement of a new economic corridor between India, West Asia, and Europe. They discussed various issues, including defence, energy security, and trade and investment. The corridor is expected to boost trade and investment between the three regions, and it could also play a role in diversifying India’s energy supplies. The two leaders also discussed a number of other issues, including regional security, counter-terrorism, and climate change. They agreed to work together to promote peace and stability in the region, and to combat the threat of terrorism. The meeting between Prime Minister Modi and Crown Prince Mohammed bin Salman was a significant development in bilateral relations between India and Saudi Arabia. It is clear that the two countries are committed to strengthening their ties and working together on a range of issues. The meeting also took place at a time when the world is facing a number of challenges, including the war in Ukraine and the energy crisis. The cooperation between India and Saudi Arabia on these issues is therefore of global significance.
issues discussed during the meeting between PM Modi and Prince
The meeting between PM Modi and Prince Mohammed bin Salman was a significant development in bilateral relations between India and Saudi Arabia. The two countries are committed to strengthening their ties and working together on a wide range of issues.
| Issues | Explanation |
| Energy | 1) Joint ventures in exploration and production, refining, and petrochemicals. 2) Increasing India’s crude oil imports from Saudi Arabia. 3) Investing in renewable energy projects. |
| Trade and investment | 1) Establishing a new economic corridor between India, West Asia, and Europe. 2) Increasing bilateral trade and investment in areas such as agriculture, manufacturing, and technology. 3) Promoting two-way investment opportunities. |
| Security and defense | 1) Cooperating on counter-terrorism and maritime security. 2) Joint exercises and training programs. 3) Sharing intelligence and information. |
| Official Website of G20 | G20.org |
Both leaders explored trade relations and the ‘vast’ potential for bilateral collaboration in fields such as grid connectivity, renewable energy, food security, and semiconductors. They discussed various issues, including defence, energy security, and trade and investment.
The Saudi Arabia Crown Prince’s Words for India
The Saudi Crown Prince came to Delhi on September 8 for the G20 Summit. He decided to stay longer for talks with PM Modi. Prime Minister Modi described his talks with the Saudi Crown Prince as productive. They talked about trade and the big opportunities for working together in areas like connecting power grids, renewable energy, making sure there’s enough food, and semiconductors.
The Prime Minister Modi Said “His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud and I had very productive talks. We reviewed our trade ties and are confident that the commercial linkages between our nations will grow even further in the times to come. The scope for cooperation in grid connectivity, renewable energy, food security, semiconductors and supply chains is immense,“ on his X (Twitter) handle.
In his remarks, the Saudi Crown Prince congratulated India for successfully hosting the G20 Summit.
“I am very glad to be here in India. A lot of announcements have been made that will benefit G20 countries and the world. We will work together to create a great future for both countries,“ The Saudi Crown Prince said.
The Saudi Crown Prince has brought a significant delegation with him, comprising ministers and senior officials.
Record-Breaking Trade Between India and Saudi Arabia
The Saudi Crown Prince’s visit to India comes on the back of a notable milestone in economic cooperation, with bilateral trade reaching an all-time high of $52.75 billion in the fiscal year 2022-23. This represents a significant increase from the $44.7 billion in trade recorded in the previous fiscal year. India and Saudi Arabia hold prominent positions as trading partners for each other, with Riyadh being New Delhi’s fourth-largest trading partner and vice versa. India’s main exports to Saudi Arabia include petrochemicals, textiles, and machinery, while its main imports from Saudi Arabia are crude oil, fertilizers, and plastics.
The record-breaking trade between India and Saudi Arabia has benefited both countries in a number of ways. It has helped to create jobs, boost economic growth, and improve the standard of living in both countries. It has also helped to strengthen the political and strategic relationship between the two countries.
The Saudi Crown Prince’s visit to India is an opportunity for the two countries to further strengthen their economic and strategic ties. It is also an opportunity for the two countries to work together to address the challenges facing the region and the world.
FAQs regarding the G20 Meeting between Crown Prince and PM Modi
The main purpose of the meeting was to discuss ways to strengthen economic and strategic ties between India and Saudi Arabia. The two leaders also discussed regional and global issues of mutual interest.
One of the main challenges in the India-Saudi Arabia relationship is the issue of energy prices. India is a major importer of crude oil from Saudi Arabia, and any increase in oil prices can have a negative impact on the Indian economy. Another challenge is the issue of terrorism. Both India and Saudi Arabia have been affected by terrorism, and they need to work together to combat this threat.
India and Saudi Arabia can overcome the challenges in their relationship by working together to strengthen their economic and strategic ties. They can also work together to promote peace and stability in the region. Additionally, they can work together to develop new technologies to reduce their dependence on fossil fuels and to combat climate change.