Jeddah/New Delhi: India and Saudi Arabia agreed to collaborate in setting up two refineries in India, during the talks between Prime Minister Narendra Modi and Saudi Crown Prince and Prime Minister Mohammed bin Salman at the Royal Court of Al-Salam Palace in Jeddah on Tuesday evening.
Earlier, Prime Minister Modi was accorded an official reception at the palace.
As PM Modi alighted from the car at the Al-Salam Palace, Saudi PM Mohammed bin Salman greeted him and the two leaders exchanged a warm hug. They then walked together while chatting to the venue of the talks.
Prime Minister Modi and the Saudi Crown Prince co-chaired the second meeting of the India–Saudi Arabia Strategic Partnership Council (SPC).
Crown Prince strongly condemned the ghastly terror attack in Pahalgam and offered deepest condolences on the innocent lives lost. The two leaders resolved to combat terrorism tooth and nail, a statement said.
The leaders reviewed the progress under the Council since their last meeting in September 2023 in New Delhi.
The leaders noted with appreciation the intensification in bilateral engagement and the large number of high-level visits across various Ministries that have built trust and mutual understanding on both sides.
The two leaders discussed cooperation in the fields of energy, defence, trade, investment, technology, culture and people-to-people relations.
Prime Minister thanked His Royal Highness for the support and welfare extended to the Indian community in Saudi Arabia. He also appreciated the support provided by the Saudi government for the Indian Haj pilgrims.
Both leaders appreciated the progress in the discussions in the High-Level Task Force on Investment.
They welcomed the understanding reached by the Task Force in multiple areas, which builds on the earlier commitment of Saudi Arabia to invest USD 100 billion in India across multiple sectors including energy, petrochemicals, infrastructure, technology, fintech, digital infrastructure, telecommunications, pharmaceuticals, manufacturing, and health, a statement said.
In this context, they particularly welcomed the agreement to collaborate on establishing two oil refineries in India, as well as the progress achieved on taxation issues. Prime Minister proposed that to further strengthen economic ties both countries could work for connecting payment gateways and trade settlement in local currencies.
The two leaders discussed progress in the India-Middle East Europe Economic Corridor [IMEEC], particularly the bilateral connectivity initiatives being undertaken by the two sides. Both leaders also exchanged views on regional and global issues of mutual interest.
The two leaders expressed satisfaction at the outcomes of the work of the two Ministerial Committees under the Council, namely: (a) the Committee on Political, Security, Social and Cultural Cooperation and its subcommittees, and (b) the Committee on Economy and Investments and its Joint Working Groups.
The two leaders welcomed the expansion of the Strategic Partnership Council with the establishment two new ministerial committees. In this context, to reflect the deepening of the defence partnership, the leaders agreed on the establishment of the Ministerial Committee on Defence Cooperation.
Acknowledging the growing momentum in cultural cooperation between the two sides in recent years, they also agreed to establish a Ministerial Committee on Tourism and Culture Cooperation. After the meeting, the minutes of the second SPC were signed by the two leaders.
The leaders welcomed the signing of four bilateral MoUs and agreements in the fields of Space, Health, Sports (Anti-Doping) and postal cooperation on the occasion of the visit. [List of Outcomes]
Prime Minister Modi invited the Saudi Crown Prince to visit India for the third meeting of the Strategic Partnership Council.
PM Modi left Jeddah in the evening right after the talks in the wake of the Pahalgam terror attacks. He was seen off at the King Abdulaziz International Airport by Prince Saud bin Mishal bin Abdulaziz, deputy governor of Makkah Region, and Minister of Commerce Majid Al-Qasabi.
