The warmth in the relations between the two countries was also felt when Saudi Arabia became one of the first countries to condemn the Pulwama terror attack and Prime Minister Modi discarded protocol to personally receive the Crown Prince at the airport. Five MoUs were signed related to investment, tourism, housing, and information and broadcasting.
Furthermore, the Saudi Arabia General Investment Authority SAGIA , signed a Framework cooperation program with Invest India to facilitate investment by the private sector and the establishment of joint ventures in the fields of petrochemical industries, pharmaceuticals and medical equipment. Going back in history, the India-Saudi Arabia ties entered into an era of a strategic partnership with the signing of the Riyadh Declaration in , followed by the Memorandum of Understanding MoU on defence cooperation in The visit of MBS further fortified the partnership by establishing a high-level monitoring mechanism in the form of the Strategic Partnership Council.
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With huge dependence on the Persian Gulf for its energy security, India is aware that any the escalation in the prevailing tensions between Saudi Arabia and Iran or any further disturbance in the Middle East could lead to a surge in oil prices, and thus having a destabilizing effect on its economy. India today has a never before the relationship with Israel. And the recent broadening of the relationship between India and Saudi Arabia, which have come a long way from being mere transactional business relations to evolving into a strategic partnership, has resulted in a bond of fraternity and mutual cooperation between the three countries, through shared geopolitical and business interests.
With both Narendra Modi and Mohammad bin Salman sharing a personal bond, it is hoped this strategic partnership will reach new heights in the future.
Bridge to the Future
The author is an independent analyst writing on trade and bilateral relations. Views expressed are personal.
Like us on Facebook and follow us on Twitter. The two countries also intend to discuss other investment opportunities worth US billion in the Project. Stock Market. Here's what you might be missing out. During the telephonic conversation, Mr Singh expressed satisfaction at the robust defence cooperation between India and Japan.
The two-day dialogue will cover a wide range of issues like trade and investment, connectivity, technology, energy, regional security, extremism and sustainable development among others. The dialogue aims to draw from learning and experiences in these sectors between India and Bangladesh.
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In Sri Lanka, political parties have agreed to a proposal by the Elections Commission to extend the voting period of the upcoming Presidential election by an hour. The decision was reached during a meeting held between officials of the Elections Commission and representatives of political parties.
British Prime Minister Boris Johnson is expected to make a fourth bid to force an early General Election on 12th of December by tabling another bill in Parliament today. Earlier, a similar attempt was rejected by MPs following the European Union's further extension to the Brexit deadline until January 31st.
With his pledge to leave the EU by the October 31 deadline now dead, Johnson has set his hopes for getting his snap poll bill through the Commons threshold. His latest attempt may just succeed after the Opposition Labour Party said it would back an early election in December.
India-Saudi Arabia Relations: New Bilateral Dynamics
Today, we bring you a story from Nagaland on the preparations for the Run for Unity. Four-time Asian medallist Shiva Thapa 63kg secured himself a medal at the Olympic Test event for boxing in Tokyo by winning his quarterfinal bout today. News Highlights. Text Bulletins Details. Home Text Bulletins Details. News at Nine HRS More in this report -- " Hours after Maharashtra Chief Minister Devendra Fadnavis today denied that Shivsena was assured post of the CM for two and a half years as part of a power-sharing formula, Uddhav Thackeray today cancelled his party's meeting with the BJP leaders on formation of the next government.
India, Saudi Arabia ink several pacts as PM Modi meets top leaders | Business Standard News
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