Before leaving for a two -day visit to Saudi Arabia, Prime Minister Narendra Modi highlighted India’s relations with Saudi and described it as one of the most special colleagues in India. PM Modi also said that there are immense potential in relations between India and Saudi Arabia.
He told Arab News during an interview, “India and Saudi Arabia will continue to move forward not only for their people but for the peace, progress and prosperity of the world.
He said that the proposed free trade agreement between India and GCC (Gulf Cooperation Council) has immense possibilities to change economic relations between India and Saudi Arabia and the entire region.
He praised the Saudi leadership for playing an important role in strengthening this partnership and thanked Crown Prince Mohammed bin Salman for invitation, which symbolizes his Saudi visit as Prime Minister.
PM Modi said, “Saudi Arabia is one of India’s most valuable partners, a marine neighbor, a reliable friend and a strategist.” Modi said that the economic relations between the two countries are as old as the monsoon winds, they said that they have not only avoided global challenges but have moved forward.
The Prime Minister said that areas such as energy, agriculture and fertilizer are the main areas of trade, but have been successful by diversification efforts. He said that Indian business and Saudi industries are forming strong relations.
He said, “Our relationship is not new. It lies in centuries-old civilized exchange. From thoughts to business, there has been a continuous flow between our two great countries.” Modi insisted that his relations have been increasing continuously since he took over in 2014, he said that the formation of the Strategic Partnership Council in 2019 is a major milestone.
Modi said, “Since then, cooperation between us has expanded in many areas. And let me tell you that this is just the beginning. Our partnership has immense possibilities.”
When asked about his personal coordination with the Crown Prince, Modi said that he had left a deep impression on him with his insight, visionary attitude and passion to fulfill his people’s aspirations.
He said that under his leadership, there have been tremendous social and economic changes in Saudi Arabia. He said, “This personal coordination naturally showed how the two countries prioritize our partnership. He is a strong supporter of our bilateral relations. He has been a great supporter of Indian migrants in Saudi Arabia and our people living in Saudi Arabia respect them a lot.” He said that when they talk, they focus on preparing this partnership for the future.
Modi said that he saw similarities between Saudi Vision 2030 and India’s developed India 2047 and said that bilateral investment is increasing.
He said, “Today, the story of Indian development provides immense opportunities to big companies in Saudi Arabia from space economy to global supply chain cooperation. Indian companies have also maintained their strong presence in various fields in Saudi Arabia. They are playing an important role in realizing Saudi Vision 2030.” On the question asked about the future of energy cooperation between the two countries, especially in terms of global energy changes, Modi said that Saudi Arabia has been a strong and reliable energy partner and is one of the top suppliers of India’s crude oil and other petroleum products.
The PM said, “India is trying to become a developed country, so our energy demand will continue to increase. And Saudi Arabia will remain a close partner in our energy security. As strategic partners we agree that our energy cooperation is not limited to buyer-seller relations only. We are also exploring the possibility of joint projects in refineries and petrochemicals.” He said that India’s ambitious green goals also have immense potential for collaboration with Saudi Arabia, including the supply chain, circular economy, energy efficiency, and green hydrogen.
Referring to the proposal of India-Central East-Europe Economic Corridor (IMEC), he said that he is working on feasibility studies for power grid interconnection between India and Saudi Arabia and wide regions.
The Prime Minister said that this corridor will decide the future of all kinds of connectivity for the coming centuries. He said that it will become the main catalyst of commerce, connectivity and development in the entire region.
He said that this will help in the development of flexible and reliable supply chains, increase trade and improve business facility.
PM Modi said that this corridor will increase efficiency, reduce costs, increase economic unity, create employment and reduce greenhouse gas emissions, resulting in transformational integration of Asia, Europe and Middle East.
He emphasized that both India and Saudi Arabia have an important role in the success of this corridor.
Appreciating more than 2.7 million members of the Indian community in Saudi Arabia as a lively bridge connecting the two countries, he appreciated not only to preserve his values and traditions, but also to promote them.
