Mohammed bin Salman, the Saudi Crown Prince and recently chosen Prime Minister of the Kingdom, is expected in New Delhi on November 14 on a brief one-day visit.
Before travelling to Bali, Indonesia for the G20 Leaders Summit, he will have meetings with Prime Minister Narendra Modi, External Affairs Minister S. Jaishankar, and National Security Advisor (NSA) Ajit Doval. The schedule is still being finalised, and the visit has not yet been formally announced.
A source claims that the main topics of discussion between the leaders of India and Saudi Arabia will be trade and investment. This fiscal year, commerce between the two nations was USD 43 billion.Saudi Arabia is already a significant market for Indian textiles and footwear, thus India is trying to increase its exports to the country.
Saudi Arabia is likewise aiming to increase its presence in the petrochemical industry in India.
Talks are also moving forward on an undersea power transmission line from Saudi Arabia to India and the establishment of reciprocal halal certification organisations to prevent misuse. The implementation of UPI and Rupay cards, as well as the institutionalisation of the rupee-riyal transaction, are also being discussed.
Due to rising oil costs, the Russia-Ukraine conflict has caused a sharp increase in worldwide inflation. India receives a significant amount of oil from Saudi Arabia, so New Delhi will be looking for some assistance in this area.
