Reviewing trade ties with his Saudi Arabia Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud, Indian Prime Minister Narendra Modi underscored that both countries are confident of commercial linkages to grow even further in future.
"The scope for cooperation in grid connectivity, renewable energy, food security, semiconductors and supply chains is immense," PM Modi said.
Earlier today, PM Modi and Saudi Arabia Crown Prince Mohammed bin Salman Al Saud held the first leaders’ meeting of the India- Saudi Arabia Strategic Partnership Council and discussed cooperation in areas such as energy security, trade and investment, defence and security, healthcare and food security.
PM Modi said in his opening remarks that the talks with the visiting Saudi Arabian leader will provide new energy and direction to ties between the two nations.
PM Modi said that the economic corridor between India, West Asia and Europe will provide economic growth and digital connectivity between these regions. He noted that the cooperation between India and Saudi Arabia in the economic sector is vital for the peace and stability of the entire region.
PM Modi also thanked the visiting leader for Saudi Arabia's contribution to the success of India's G20 Presidency.
He lauded the commitment of Saudi Crown Prince for the welfare of Indians residing in Saudi Arabia.
India, the US, UAE, Saudi Arabia, France, Germany, Italy and the European Union signed a Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor during the G20 Summit.
The Crown Prince and Prime Minister of Saudi Arabia, Bin Salman who arrived here on a three-day State visit, attended the G20 Summit in the national capital.
The Saudi Crown Prince is accompanied by a high-level delegation, including ministers and senior officials.
Prior to his meeting with PM Modi, the Saudi Arabian Crown Prince received a ceremonial reception at Rashtrapati Bhavan.