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   Importance of Saudi Arabia to India

Why is it in the news?

Recently, Prince Mohammed visited New Delhi for the G20 Leaders’ Summit.

Historical ties

  • Diplomatic relations since 1947.
  • Key moments include the Delhi Declaration (2006), Riyadh Declaration (2010), and Crown Prince Mohammed’s visit in 2019.
Four pillars of the relationship

1) Economic Ties:

  • Bilateral trade valued at $52.76 billion in FY22-23.
  • Significant Indian corporate presence in Saudi Arabia.
  • Saudi investments in Indian startups and major projects like West Coast Refinery.
  • Over 2.4 million Indians contributing to Saudi development.
    • A bridge between the two countries.

2) Energy Cooperation:

  • Saudi Arabia crucial for India’s energy security.
  • Third-largest source of crude and petroleum products for India.

3) Defense Partnership:

  • Extensive naval cooperation and bilateral naval exercises.
    • AL – Mohed AL – Hindi is the bilateral naval exercise between India and Saudi Arabia. 
  • Collaboration in defense industries and capacity-building.

4) Security cooperation:

  • Emphasis on combating terrorism and its financing.
  • Rejecting terrorism for any reason and urging all states to dismantle terrorism infrastructure.
  • Commitment to Afghanistan’s security, stability, and inclusive government.

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