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.