 |
| Narendra Modi And Crown Prince MBS |
Prime Minister Narendra Modi and Saudi Arabia's Crown Prince, Mohammed bin Salman bin Abdulaziz Al Saud, recently co-chaired the inaugural summit-level meeting of the India-Saudi Arabia Strategic Partnership Council (SPC). This article delves into the significance of the SPC and its role in strengthening the ties between the two nations.
The Birth of India-Saudi Arabia Strategic Partnership Council
In 2019, during PM Modi's visit to Saudi Arabia, a landmark pact was signed, giving birth to the India-Saudi Arabia Strategic Partnership Council. This move made India the fourth nation, after the UK, France, and China, to establish such a partnership with Riyadh.
SPC's Objective
The primary goal of the SPC is to "establish a high-level council to steer the Indo-Saudi relationship," as per the Ministry of External Affairs (MEA). PM Modi emphasized that the SPC would usher in a new era of cooperation, encompassing various sectors such as trade, investment, security, and defense cooperation, all of which are already robust and deep.
Structural Framework of the SPC
The SPC operates through two main pillars:
1. Committee on Political, Security, Social, and Cultural Cooperation
- Summit level (Prime Minister & Crown Prince)
- Ministerial-level
- Senior Officials’ Meetings
- Joint Working Groups (JWGs): Political & Consular; Legal & Security; Social & Cultural; Joint Committee on Defence Cooperation.
2. Committee on Economy and Investments
- Summit level (Prime Minister & Crown Prince)
- Ministerial-level
- Senior Officials’ Meetings
- Joint Working Groups (JWGs): Agriculture & Food Security; Energy; Technology & Information Technology; Industry and Infrastructure.
Recent Developments
In September 2022, Union Minister of Commerce and Industry Piyush Goyal attended the Ministerial meeting of the SPC in Saudi Arabia. This meeting aimed to streamline efforts, including the realization of $100 billion worth of investments in India, as announced by Mohammad Bin Salman during his visit to India in February 2019.
Outcomes and Future Prospects
The meeting resulted in several significant outcomes, including cooperation in the digital fintech sector, the West coast refinery project, LNG infrastructure investment, and strategic petroleum storage facilities in India.
Recent Talks
During their recent talks, India and Saudi Arabia agreed to expedite the implementation of the $50-billion West Coast refinery project. They also identified energy, defense, semiconductor, and space as areas for intensified cooperation.
Conclusion
The India-Saudi Arabia Strategic Partnership Council represents a pivotal step in the relations between these two nations. Its structured framework and recent developments signal a promising future of collaboration across various sectors, fostering mutual growth and prosperity.
0 Comments