Defence cooperation as well as defence exports are other areas of cooperation which Saudi Arabia and India are expected to focus on.
Ahead of the G20 Leaders Summit in Bali, Indonesia next week, Saudi Crown Prince and Prime Minister of the Kingdom of Saudi Arabia (KSA), Mohammed bin Salman will be in India on November 14. The focus of the visit will be on energy and food security as well as deepening trade and investments.
Though no official announcement has been made regarding the date and the agenda, according to sources it will be a short working visit before he leaves for Bali. The Saudi Crown Prince is coming here at the invitation of Prime Minister Narendra Modi.
PM Modi will leave for Bali the same day later in the evening.
It has been reported earlier that during the visit of External Affairs Minister Dr S Jaishankar to Riyadh in September he had handed over a letter from PM Modi to the Crown Prince.
Agenda in New Delhi
In New Delhi besides having a meeting with PM Modi, the visiting Crown Prince will also meet external affairs minister S Jaishankar, and National Security Advisor (NSA) Ajit Doval.
Defence cooperation as well as defence exports are other areas of cooperation which the two sides are expected to focus on.
According to reports, Pune based Kalyani Group has supposedly bagged a deal worth $155 million (over Rs 1,200 crore) for the indigenous 155mm Artillery Gun platform.
Also, the leaders will discuss the Saudi government’s interest in expanding its base in India’s petrochemicals sector. And in an effort to stop misuse, the visiting leader is likely to talk about setting up mutual Halal certification agencies, and will also review the progress of the undersea power transmission lines coming from that country to India.
Trade in Rupee-Riyal, introduction of Rupay as well as UPI will all be discussed.
Significance of the visit
The visit comes amidst the growing tensions between the US and Saudi Arabia over the ongoing Russia-Ukraine war which has entered the ninth month. The war has led to a massive jump in global inflation due to the spiraling oil prices.
What is expected out of the visit
Since Saudi Arabia is a major oil exporter to India, during discussions there is a hope that there will be some relief.
According to reports Saudi led OPEC is already facing criticism for cutting oil production from this month onwards. While the US is not pleased with this move, experts opine that this will lead to further increase in global inflation. Washington is upset over Saudi led OPEC’s decision to cut production quotas by almost 2 million barrels a day. In fact the Biden administration has threatened Saudi Arabia with unspecified consequences.
The Saudi Energy minister Prince Abdulaziz Bin Salman has visited India recently and Jaishankar had visited Riyadh in September this year.
Saudi Arabia & BRICS
Financial Express Online has also reported last month that the Gulf nation has expressed its interest to join BRICS Bloc. This was announced during the visit of the South African President Cyril Ramposa during his visit to Riyadh.
https://www.financialexpress.com/defence/saudi-prince-to-visit-next-week-at-pms-invitation-energy-food-and-defence-to-top-talks-agenda/2804024/?utm_source=defence_landing_page&utm_medium=article_listing_widget&utm_campaign=Tags
