THE strategic partnership between India and Saudi Arabia is crucial for regional and global stability and welfare, Prime Minister Narendra Modi said on Monday during his talks with Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud. India and Saudi Arabia have signed as many as eight agreements during the State visit of Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al-Saud, said Ministry of External Affairs on Monday.

 

Addressing a press briefing onthe State visit ofthe Saudi CrownPrince, Secretary(CPV and OIA) Ausaf Sayeed said, “I am happy to share with you that during this visit as many as eight agreements have been signed.” The agreements signed are in the field of energy, in the field of digitalisation and electronic manufacturing ,and cooperation between India’s Central Vigilance Commission and Saudi Anti-corruption. There was an agreement between the two investment entities, India and Saudi counterparts Exim banks, Small and Medium Enterprises Banks and an agreement on desalination. An agreement was also signed on renewable energy.

 

Both the countries decided to expedite implementation of the USD 50 billion West Coast refinery project, and identified energy, defence,semiconductorand space as areas forintensified cooperation. At the first India-Saudi Arabia Strategic Partnership Council meeting, the two sides agreed to diversify the current status of their hydrocarbons relationship into a “comprehensive energy partnership” and inked eight pacts to boost cooperation in a range of areas including digitisation and investment.