Indian Prime Minister Narendra Modi will visit Saudi Arabia this week to meet Crown Prince Mohammed bin Salman to discuss trade, investments and energy tie-ups.
The two leaders will also discuss the India-Middle East-Europe Corridor and defence cooperation during the April 22-23 visit, the Indian Express newspaper reported.
In September 2023 world leaders announced a shipping and rail transportation corridor linking countries across the Middle East, South Asia and Europe at the G20 summit in New Dehli, India.
Modi’s visit comes before US President Donald Trump, who is expected to visit Riyadh in mid-May.
The Indian leader visited the Gulf nations twice in 2016 and 2019, followed by visits by the crown prince to New Delhi in 2019 and 2023.
In 2023-24, India imported 33.35 million metric tonnes of crude oil from Saudi Arabia, accounting for 14 percent of India’s total crude oil imports.
The kingdom was India’s third-largest source of LPG, making up 18 percent of its total LPG imports.
In 2023-24 trade between the two countries was worth $43 billion, with Indian exports at $12 billion and imports at $31 billion.
Indian investments in Saudi Arabia reached $3 billion by August 2023, while Saudi Arabia has invested $10 billion in India, the report said.
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