Known for his foreign policies, PM Modi has added yet another feather in his hat by strengthening the bilateral relations between Indian and Saudi Arabia. In this episode, we will focus on India and Saudi Arabia’s growing ties.
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Since Modi became the Prime Minister of India, his focus has been to reshape and strengthen India’s relationship with Middle Eastern countries.
In 2014, Modi became the Prime Minister of the largest democracy in the world. He brought about several changes which made the country the fifth-largest economy in the world. In addition to social and economic reforms, PM Modi’s tenure will be remembered for his foreign policies. The PM’s strategic moves to partner with regional powers like UAE, Israel, and Saudi Arabia has played a major role in improving geopolitical ties with the Middle Eastern countries.
India is known for its complex domestic politics, where every step of a leader in power is criticized, along with the opposition placing an alternate narrative. Despite these facts,
PM Narendra Modi has managed to visit Middle Eastern territories several times since he took office in 2014.
An article published on Economic Times mentions the following:
“India is likely to overtake China as the top driver of growth in oil demand by 2024. During his maiden trip to New Delhi in February, Saudi Crown Prince Mohammed bin Salman said he saw over $100 billion worth of investment opportunities in India over the next two years. India has also shored up its energy investments in the region. India’s ONGC Videsh has acquired a 10% stake in an offshore oil concession in Abu Dhabi, UAE, for $600 million.”
India-Saudi Arabia relations are becoming extremely robust, with the Kingdom becoming the fourth largest trading partner.
An article published on ORF mentions:
“Since the last few years, India-Saudi Arabia relations have become comprehensive and robust, with the kingdom not only becoming New Delhi’s fourth largest trading partner but also an important collaborator in the joint combat against all forms of terrorism, money laundering, and terror financing. It is noteworthy that the bilateral trade in the fiscal year 2021-2022 stood at US$42.8 billion, and the kingdom alone accounts for 18 percent of India’s energy import, which reflects the significance of the country from the standpoint of New Delhi’s energy and economic security calculus.”
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