Saudi Arabia, India Deepen Strategic Partnership amid Robust Trade and Investment
Saudi Press Agency
Riyadh, April 22, 2025, SPA -- The long-standing and strategically significant relationship between Saudi Arabia and India, spanning over 75 years, has evolved into a robust partnership across diverse sectors, including politics, economy, trade, and clean energy.
Frequent high-level exchanges have been instrumental in bolstering these ties. Notably, in February 2014, Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, then Crown Prince, visited India at the invitation of former Indian Vice President M. Hamid Ansari, and met with former Indian President Pranab Mukherjee.
The momentum continued in April 2016 when the Custodian of the Two Holy Mosques received Indian Prime Minister Narendra Modi in Riyadh. This visit resulted in the signing of a comprehensive cooperation agreement, cooperation programs, an executive program, and a draft memorandum of understanding between the two governments.
In September 2016, on the sidelines of the G20 Summit in China, HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, met with Modi, discussing opportunities to strengthen bilateral cooperation.
Further demonstrating the commitment to this relationship, HRH the Crown Prince met with Modi again in November 2018 during the G20 Summit in Argentina. Their discussions centered on expanding cooperation in political, security, economic, investment, agricultural, energy, cultural, and technological domains.
A significant milestone was reached during HRH the Crown Prince's visit to India in 2019 with the establishment of the Saudi-Indian Strategic Partnership Council. Co-chaired by HRH the Crown Prince and the Indian prime minister, this council, with broad ministerial representation, aims to align Saudi Arabia's Vision 2030 with India's key initiatives such as "Make in India," "Smart Cities," "Clean India," and "Digital India," thereby fostering collaboration across all sectors.
Building on this progress, HRH the Crown Prince and Modi met again in June 2019 at the G20 Summit in Japan, where they reviewed the strong bilateral relations and explored avenues for further enhancement.
Continuing the tradition of high-level engagement, the Custodian of the Two Holy Mosques received Modi in Saudi Arabia in October 2019 for bilateral talks.
In September 2023, HRH the Crown Prince visited India at the invitation of Modi, during which they explored ways to deepen the strategic partnership and exchanged perspectives on pressing regional and international issues.
Economically, India stands as Saudi Arabia's second-largest trading partner, while Saudi Arabia is India's fifth-largest partner and its second-largest oil supplier. Bilateral trade volume reached $39.9 billion in 2024.
Saudi Arabia's attractive investment climate has drawn significant Indian investments, reaching $4 billion in 2023, a notable 39% increase from $2.39 billion in 2022.
Major Indian companies have established a strong presence in the Kingdom, and the 2023 Saudi-India Investment Forum saw the signing of 53 agreements and memoranda of understanding.
Conversely, prominent Saudi companies, including Saudi Aramco and SABIC, have undertaken projects and formed investment partnerships in India, with the total value of Saudi investments reaching $10 billion.
Energy remains a cornerstone of the strategic partnership, with both nations sharing a common vision for global oil market stability and energy security. Saudi Arabia is a committed and reliable supplier of crude oil to India.
Furthermore, data indicates that Saudi Arabia has provided over $193.8 million in aid to India across various sectors, including education, health, food security, energy, and transportation.
The Indian prime minister's visit to the Kingdom today underscores Saudi Arabia's significant political and economic standing and its pivotal role on the global stage.
-- SPA
16:11 Local Time 13:11 GMT
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