New Delhi and Riyadh are set to sign at least six agreements across energy, trade, and defense
Indian Prime Minister Narendra Modi has kicked off a two-day visit to Saudi Arabia to strengthen relations with the major oil exporter, amid global trade uncertainty.
India and Saudi Arabia will sign at least six agreements during Modi’s April 22-23 visit to Jeddah, according to a report by The Hindu.
During his visit, Modi will meet Saudi Crown Prince Mohammed bin Salman, engage in bilateral discussions, and visit Indian workers at a factory, officials said.
The Indian prime minister and the Saudi crown prince are expected to discuss key areas such as defense, trade, and energy, as India aims to become a major refining hub. Modi may seek to secure investments, following bin Salman’s 2019 pledge to invest $100 billion in India, reports said.
Modi’s visit is expected to lead to stronger energy ties and the signing of several agreements, Indian Foreign Secretary Vikram Misri stated. He added that the goal is to give the energy partnership between India and Saudi Arabia a more strategic direction.
“We have shared interest and commitment to promote regional peace, prosperity, security and stability,” Modi said, noting it will be his third visit to Saudi Arabia and his first to the historic city of Jeddah. As a special gesture, the Indian prime minister’s aircraft was escorted by F15 fighter jets of the Royal Saudi Air Force in Saudi airspace.
🇮🇳-🇸🇦 friendship flying high!
As a special gesture for the State Visit of PM @narendramodi, his aircraft was escorted by the Royal Saudi Air Force as it entered the Saudi airspace. pic.twitter.com/ad8F9XGmDL
Jeddah holds great significance as a connectivity hub between India and Saudi Arabia, Indian Ambassador to Saudi Arabia Suhel Ajaz Khan said. It has served as a centuries-old trade port and a gateway to Mecca for pilgrims traveling for Umrah and Hajj, he told the PTI news agency.
The visit also comes at a time when India’s imports of OPEC oil have hit a record low in the fiscal year 2024-25. Refineries are favoring cheaper oil from Russia, which has been India’s top supplier for three years in a row, with bilateral trade exceeding $65 billion in the 2023-24 financial year, according to government data.
India and Saudi Arabia are looking to benefit from strengthening their trade relations, driven in part by the impact of sweeping US tariffs imposed by President Donald Trump. The two sides are exploring joint projects in refineries and petrochemicals, according to comments Modi made to Arab News.
They are also pursuing a bilateral investment treaty and enhanced interconnectivity through the India-Middle East-Europe Economic Corridor.
