Prime Minister Narendra Modi is set to visit Saudi Arabia later this month in a move aimed at deepening strategic and economic relations between the two countries amid growing geopolitical shifts. This marks Modi’s first visit to the Gulf nation in more than four years and follows Saudi Crown Prince Mohammed bin Salman’s trip to India in September 2023.
According to sources familiar with the matter, Modi is expected to arrive in Saudi Arabia during the third week of April, shortly after U.S. National Security Adviser Mike Waltz’s scheduled visit to the kingdom. The Indian Prime Minister’s visit is expected to focus on evaluating bilateral trade and investment, which have seen a significant upswing in recent years.
Trade between the two nations reached $43.3 billion in the 2023–24 fiscal year, with India’s exports growing by 7.8% to nearly $12 billion. India has emerged as Saudi Arabia’s second-largest trade partner and a key contributor to its food security—rice exports alone are valued at approximately $1 billion annually.
During the visit, the two sides are also expected to exchange views on regional issues, including the ongoing Israel-Hamas conflict in Gaza, and progress on the India-Middle East-Europe Economic Corridor (IMEC), a project aimed at enhancing connectivity and trade.
Despite strengthening ties in various sectors, there have been some diplomatic frictions. Saudi Arabia was notably absent from the 2024 BRICS Summit despite being invited to join the group. Additionally, India’s increasing imports of discounted Russian crude led to a dip in oil imports from Saudi Arabia and Iraq, although both remain top energy suppliers for New Delhi.
The Indian diaspora in Saudi Arabia continues to grow, with the number of Indian workers increasing by 200,000 in 2023–24, bringing the total Indian community in the country to 2.65 million. The number of registered Indian companies in Saudi Arabia has also risen to 3,000, boosted by growth in construction, infrastructure, and service sectors.
On the defence front, India and Saudi Arabia are preparing for their third joint naval exercise. In a milestone defence cooperation development, Munitions India Limited (MIL), a state-owned Indian company, signed a $225 million contract in February 2024 to supply artillery ammunition to Saudi Arabia. This was followed by an additional deal worth $80 million last year.
The visit is expected to cement the growing multidimensional partnership between the two nations and pave the way for enhanced cooperation in trade, security, and regional stability.
Sources By Agencies
