Prime Minister Narendra Modi came at Riyadh late on Monday night to a two-day trip, where he will attend the next variant of Saudi Arabia’s high-profile yearly financial seminar and hold bilateral talks with the top leadership of the Gulf Kingdom.
“Landed at the Kingdom of Saudi Arabia, marking the beginning of a significant trip aimed at strengthening ties with a loved friend. Will be participate in a vast assortment of programs on this trip,” the prime minister tweeted.
He’ll deliver the keynote speech under the name’What is next for India?’ In the Future Investment Initiative (FII), that can be called as Davos from the Desert’.
Both sides are expected to sign several arrangements in several important sectors such as oil and gas and renewable power and civil aviation to reinforce their ties.
The three-day forum, starting on Tuesday, will sponsor financiers, governments, and business leaders who’d discuss international commerce and explore the trends, challenges and opportunities shaping the international investment landscape within the forthcoming decades.
Saudi Arabia has been one of the greatest and dependable providers of India’s energy requirements,” Modi said in his death announcement in New Delhi.
He noticed that defense, safety, commerce, culture, schooling, and people-to-people contacts would be another essential region of bilateral alliance with Saudi Arabia.
Both sides would also sign an agreement to set up a Strategic Partnership Council to organize crucial problems. The council will be led by Prime Minister Modi and also the crown prince and it’ll satisfy every couple of decades.
“The Arrangement for establishment of this Strategic Partnership Council will further increase the India-Saudi Arabia Strategic Partnership into a new level,” the prime minister said in his announcement.
This could be Prime Minister Modi’s second trip to the Gulf Kingdom. During his initial trip in 2016, King Salman conferred Saudi’s highest civilian award.
India’s relations with Saudi Arabia have already been on an upswing during the past couple of decades.
Saudi Arabia last month stated that it had been considering investing USD 100 billion in India in regions of energy, refining, petrochemicals, infrastructure, agriculture, mining, and minerals.
In the FII forum, Prime Minister Modi will talk on India’s market, its challenges and opportunities for equitable growth and wealth.
“I will talk about the expanding trade and investment opportunities for its worldwide investors in India since the nation marches ahead to some 5 trillion dollar market by 2024,” Modi said.
The high-profile forum confronted widespread boycott in 2018 at the wake of murdering of Saudi dissident journalist Jamal Khashoggi, who had been murdered at the Kingdoma’s consulate in Istanbul, Turkey by Saudi security representatives.