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Last Updated : Feb 20, 2019 06:37 PM IST | Source: Moneycontrol.com

Mohammed bin Salman meets Narendra Modi: 5 sectors that could be impacted by the Prince's visit

Read on to find out the potential bilateral agreements India and Saudi may sign today.

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Saudi Crown Prince Mohammed bin Salman, who is on his maiden official visit to India, was welcomed by PM Narendra Modi on February 19. During MBS' 30-hour visit, the two leaders are likely to discuss a plethora of issues ranging from trade to defence and security. Read on two find out potential bilateral agreements India and Saudi may sign today. (Image: AP)
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Saudi Crown Prince Mohammed bin Salman, who is on his maiden official visit to India, was welcomed by PM Narendra Modi on February 19. During MBS' 30-hour visit, the two leaders are likely to discuss a plethora of issues ranging from trade to defence and security. Read on to find out the potential bilateral agreements India and Saudi may sign today. (Image: AP)

Energy synergy | When you have representatives of the world's third-largest oil importer (India) and the world's biggest oil exporter (Saudi Arabia) in the same room, some greasy talks are bound to happen. Saudi is already a key pillar of India's energy security, supplying over 17 percent of the country's crude oil requirements and 32 percent of LPG requirements. Reports suggest that the talks would cover Saudi Aramco's investment in refineries in India, including the stalled $44 billion refinery in Maharashtra. (Image: AP)
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Energy synergy | When you have representatives of the world's third-largest oil importer (India) and the world's biggest oil exporter (Saudi Arabia) in the same room, some greasy talks are bound to happen. Saudi is already a key pillar of India's energy security, supplying over 17 percent of the country's crude oil requirements and 32 percent of LPG requirements. Reports suggest that the talks would cover Saudi Aramco's investment in refineries in India, including the stalled $44 billion refinery in Maharashtra. (Image: AP)

Counter-terrorism | In the wake of the February 14 terror attacks in Pulwama, the two leaders are expected to issue a strong statement on terrorism. The two countries had already inked a pact related to crimes and terrorism during Modi's 2016 visit to Riyadh. The ongoing visit will reportedly build on those ties, ramping overall defence cooperation between the two nations. (Image: AP)
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Counter-terrorism | In the wake of the February 14 terror attacks in Pulwama, the two leaders are expected to issue a strong statement on terrorism. The two countries had already inked a pact related to crimes and terrorism during Modi's 2016 visit to Riyadh. The ongoing visit will reportedly build on those ties, ramping overall defence cooperation between the two nations. (Image: AP)

Trade and Investment | Since Modi's visit to Riyadh, the two nations have shared a salubrious bilateral trading relationship, doing business worth $27.48 billion in 2017-18 alone. The Middle Eastern country is also ranked 15th in terms of country-wise FDI in India globally. Furthermore, the Union Cabinet chaired by Modi approved the signing of an MoU between the two countries, earlier this month, that will establish a mechanism for investment infrastructure in India. (Image: AP)
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Trade and Investment | Since Modi's visit to Riyadh, the two nations have shared a salubrious bilateral trading relationship, doing business worth $27.48 billion in 2017-18 alone. The Middle Eastern country is also ranked 15th in terms of country-wise FDI in India globally. Furthermore, the Union Cabinet chaired by Modi approved the signing of an MoU between the two countries, earlier this month, that will establish a mechanism for investment infrastructure in India. (Image: AP)

Tourism, housing and information and broadcasting | According to Secretary of Economic Affairs in the Ministry of External Affairs, TS Tirumurti, the two countries may also sign an MoU on tourism, housing and information and broadcasting. In 2015, around 6.7 percent of Saudi's tourism revenue came from Indian nationals. Likewise, Saudi is a growing tourist generating market for India from the Middle East. (Image: AP)
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Tourism, housing and information and broadcasting | According to Secretary of Economic Affairs in the Ministry of External Affairs, TS Tirumurti, the two countries may also sign an MoU on tourism, housing and information and broadcasting. In 2015, around 6.7 percent of Saudi's tourism revenue came from Indian nationals. Likewise, Saudi is a growing tourist generating market for India from the Middle East. (Image: AP)

 Security, politics and culture | Saudi is one of the eight strategic partners with whom India intends to deepen partnership in areas of Security, politics and culture. "As part of this engagement, we are finalizing the setting up of 'Strategic Partnership Council' between the two countries at ministerial level. We are confident that this will give greater thrust to our strategic partnership and take forward our discussions in a focussed and action-oriented manner," Tirumurti said. (Image: AP)
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Security, politics and culture | Saudi is one of the eight strategic partners with whom India intends to deepen partnership in areas of Security, politics and culture. "As part of this engagement, we are finalizing the setting up of 'Strategic Partnership Council' between the two countries at ministerial level. We are confident that this will give greater thrust to our strategic partnership and take forward our discussions in a focussed and action-oriented manner," Tirumurti said. (Image: AP)

First Published on Feb 20, 2019 06:37 pm
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