During a recent two-day state visit to Saudi Arabia, Indian Prime Minister Narendra Modi and Crown Prince Mohammed bin Salman reaffirmed the growing strategic partnership between the two nations. The visit underscored mutual commitments to expanding collaboration in technology, fintech, digital infrastructure, and telecommunications.
The visit featured significant agreements, including a Memorandum of Understanding (MoU) between the Saudi Space Agency and India’s Department of Space, focusing on space exploration and technology. The partnership aims to foster collaboration in satellite systems, launch vehicles, and space-based applications, while also facilitating scientific research and academic exchanges.
A highlight of the visit was the signing of an MoU between India’s Telecom Regulatory Authority and Saudi Arabia’s Communications, Space, and Technology Commission, marking another milestone in bilateral cooperation in the digital sector. India and Saudi Arabia also emphasized the importance of expanding trade, with India being the second-largest trading partner for Saudi Arabia.
Both countries are actively working on a proposed Free Trade Agreement (FTA) between India and the Gulf Cooperation Council (GCC), which could significantly enhance regional economic integration. India and Saudi Arabia also discussed the growing importance of collaboration in green energy initiatives, particularly in hydrogen production, and the promotion of energy-efficient technologies.
The two leaders co-chaired the second meeting of the India-Saudi Arabia Strategic Partnership Council (SPC), which includes four new ministerial committees focused on economic, energy, investment, technology, political, consular, security, defense, and tourism cooperation.
The partnership is also seeing a major push for infrastructure investment, with Saudi Arabia committing to invest $100 billion in India across sectors such as energy, fintech, and healthcare. India also expressed its interest in strengthening cultural ties, with Modi looking forward to engaging with the vibrant Indian community in Saudi Arabia, which numbers around 2.7 million.
Additionally, India and Saudi Arabia expressed their commitment to collaborative efforts in tackling climate change, particularly through strategies aimed at reducing emissions and promoting a circular carbon economy. Both countries also pledged to deepen their cooperation in regional and global security matters, especially in cybersecurity, maritime security, and combating transnational crime.
In the field of education and science, the two nations highlighted the importance of innovation, skill development, and sustainability. Saudi Arabia welcomed the proposal of establishing campuses for top Indian universities, while also focusing on labor and human resource development for the future.
Both India and Saudi Arabia also committed to enhancing their cooperation in global organizations such as the G20, the IMF, and the World Bank, working together to tackle global economic challenges. The leaders also highlighted the importance of further improving the Common Framework for Debt Treatment Beyond the Debt Service Suspension Initiative (DSSI) to address the debt challenges of eligible countries.
This state visit has set the stage for an expanded, future-focused partnership between India and Saudi Arabia, further positioning both nations as global leaders in key sectors.
