Indian Prime Minister Narendra Modi arrived in Jeddah on Tuesday for a two-day visit aimed at strengthening economic, energy, and diaspora-related ties with Saudi Arabia.
“India deeply values its long and historic ties with Saudi Arabia that have acquired strategic depth and momentum in recent years,” Modi said in a statement from his office, emphasizing the importance of bilateral relations.
Saudi Arabia remains a vital energy partner for India, which relies heavily on petroleum imports to fuel its fast-growing economy. The Kingdom is currently India’s third-largest crude oil supplier, according to the Indian foreign ministry.
In addition to energy cooperation, the visit highlights the role of over two million Indian nationals residing in Saudi Arabia, who have contributed significantly to the country’s infrastructure and continue to send substantial remittances back to India.
During his visit, Modi is expected to meet with members of the Indian community and hold discussions on further expanding economic cooperation. In an interview with Arab News, he revealed that both countries are exploring joint ventures in refineries and petrochemicals and examining the feasibility of regional electricity grid interconnectivity.
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European shares dropped on Friday after President Donald Trump intensified tariff threats against the EU, casting doubt on trade talks and dampening investor confidence.
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The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
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