PM Modi will depart for Saudi Arabia today at the invitation of Crown Prince Mohammed bin Salman. This will be PM Modi’s third visit to the country, following earlier visits to Riyadh in 2016 and 2019.
In an interview with Arab News, PM Modi said, “Our partnership has limitless potential. In a world full of uncertainties, our bond stands strong, as a pillar of stability.”
Praising Saudi Crown Prince and Prime Minister Mohammed bin Salman’s leadership, PM Modi called him “a strong advocate of our bilateral ties” and a visionary who has inspired global admiration through the reforms under Vision 2030.
“Every time I have met him, His Royal Highness has left a deep impression on me. His insights, his forward-thinking vision, and his passion for fulfilling the aspirations of his people are truly remarkable,” he said, Arab News reported.
Responding to a question about Saudi Arabia being India’s fifth-largest trading partner, PM Modi highlighted the economic relationship as “old as the monsoon winds” between the two countries.”Our economic ties are as old as the monsoon winds. Given the proximity of our nations and the complementarity of our economies, there is a natural connect. That is why even during global challenges, our trade ties have not just survived, but they have grown. While sectors like energy, agriculture and fertilisers are the main areas of our trade, efforts at diversification have borne fruits. Indian businesses and Saudi industry are building stronger connections,” PM Modi told Arab News.He added, “Building stronger connect between our businesses and industry and enhancing investment partnership is adding resilience to this relationship. Saudi Arabia is a leading energy partner for India. Likewise, India is contributing to food security in Saudi Arabia. I am told people in Saudi Arabia prefer Indian rice! India too loves Saudi dates. I also see several complementarities between Saudi Vision 2030 and India’s Viksit Bharat 2047 (Developed India 2047 initiative).”
PM Modi further underscored the growth in bilateral investments between India and Saudi Arabia, highlighting the vast opportunities for collaboration across emerging sectors.
With Indian companies actively contributing to Saudi Arabia’s Vision 2030, PM Modi emphasised the shared commitment to deepen economic ties through initiatives like a Bilateral Investment Treaty and a proposed Free Trade Agreement with the GCC.
“Bilateral investments between our countries have also been increasing. Today, the Indian growth story offers immense opportunities for Saudi majors to invest and partner, from space economy to global supply chain collaborations. Indian companies have also maintained a strong presence across various sectors in Saudi Arabia. They are playing a crucial role in the realisation of Saudi Vision 2030. Our goal is to enhance this connect. India and Saudi Arabia are working on a Bilateral Investment Treaty. The proposed Free Trade Agreement between India and GCC has immense potential to transform the economic relationship between India and Saudi Arabia, and the region in general,” PM Modi said.
