Saudi crown prince Mohammed bin Salman to visit India
Saudi Crown Prince Mohammed bin Salman has recently been made the Prime Minister of the Kingdom. He has planned to be in New Delhi for a short one-day visit on November 14.
While in Delhi, the Saudi Crown Prince will first have a meeting with Prime Minister Narendra Modi and also with External Affairs Minister S Jaishankar and National Security Advisor (NSA) Ajit Doval, before heading to Bali, Indonesia for G20 Leader’s Summit.
The program is still evolving and there is no formal announcement of the visit yet.
Trade and investment will be the key areas of focus during talks between India-Saudi leadership in New Delhi, according to a source.
Trade between the two countries stands at nearly USD 43 billion this fiscal year. Source told ANI that India is looking for more exports to the kingdom, Saudi is already a big market for Indian footwear and textiles.
Meanwhile, Saudi Arabia is also hoping to expand its base into India’s petrochemical sector.
Talks on the formation of mutual halal certification agencies to stop misuse and undersea power transmission line from Saudi to India are also progressing. Deliberation is also taking place on institutionalizing the Rupee-Riyal trade, introduction of UPI and Rupay cards.
The Russia-Ukraine conflict has led to a massive jump in global inflation led by spiralling oil prices. Saudi is a major oil exporter to India and New Delhi will be hoping for some relief in this aspect.
Saudi-led OPEC is already under fire for cutting oil production from November onwards. The United States says it is a political move and many experts says that this will lead to a further increase in global inflation.
Saudi Energy Minister Prince Abdulaziz Bin Salman recently visited India.
Earlier Minister Jaishankar had visited Riyadh in September and discussed cooperation in the political, security and socio-cultural pillars of strategic partnership.
