Why is it in the news?

• Recently, exchange of agreements occurred during the state visit of Crown Prince Mohammed Bin Salman of Saudi Arabia.
• Saudi Arabia’s recent inclusion in BRICS adds to the importance of the visit.

More about the news

• India and Saudi Arabia agreed to establish a joint task force to expedite the West Coast refinery project.
  • Both sides expressed full support for the $50 billion West Coast refinery project, with plans to channelize a $100 billion investment.
• Discussions focused on various sectors, including defence, energy, security, education, technology, transportation, healthcare, tourism, and culture.
• The partnership emphasizes comprehensive energy cooperation and upgrades energy ties.
• The two nations aim to strengthen cooperation in defence and anti-terror efforts, with a focus on preventing access to missiles and drones for terror attacks.
• The joint statement underscores collaboration on Yemen and Afghanistan, as well as India’s humanitarian assistance to Yemen.

India-Saudi Strategic Partnership Council (SPC)

• The India-Saudi Strategic Partnership Council (SPC) was co-chaired by PM Modi and Crown Prince Bin Salman, signifying deepening ties between the countries.
• The SPC, established in 2019, consists of committees on political, security, social, and cultural cooperation, as well as the economy and investments.
• Various joint working groups (JWGs) operate under these committees, addressing specific areas of cooperation.