Current:Home > FinanceIndia and Saudi Arabia agree to expand economic and security ties after the G20 summit -Thrive Money Mindset
India and Saudi Arabia agree to expand economic and security ties after the G20 summit
View
Date:2025-04-12 17:14:26
NEW DELHI (AP) — India and Saudi Arabia agreed Monday to expand trade and security ties, two days after their leaders and others attending a Group of 20 summit announced a new railways and port corridor deal that will link India, Middle East and Europe.
Indian Prime Minister Narendra Modi and Saudi Arabia’s Crown Prince Mohammed bin Salman met in New Delhi and chaired a meeting of the India-Saudi Arabia Strategic Partnership Council. The two leaders discussed issues ranging from energy security, trade and investment to defense, health care and food security, India’s foreign ministry spokesperson Arindam Bagchi said.
The India-Saudi Arabia Strategic Partnership Council, established in 2019, serves as a platform between the two countries to increase ties.
During last week’s G20 summit, India, Saudi Arabia, the United States, the European Union and other countries announced an ambitious rail and shipping corridor that will link India with the Middle East and Europe in a bid to strengthen economic growth and political cooperation.
Experts see it as alternative to China’s own nation-spanning infrastructure program.
In a televised press statement, Modi called Saudi Arabia one of India’s “most important strategic partners.”
He said the “corridor will not only connect the two countries, but will also strengthen economic cooperation, energy development and digital connectivity between Asia, West Asia and Europe.”
Ahead of the talks, Prince Mohammed was accorded a ceremonial welcome at the Rashtrapati Bhavan Presidential Palace in New Delhi. He is on a three-day trip to India that included the G20 summit.
India views Saudi Arabia as one of its most important strategic partners in the Middle East. Trade between the countries stood at over $52.8 billion in the fiscal year 2022-2023.
veryGood! (132)
Related
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- First U.S. execution by nitrogen gas would cause painful and humiliating death, U.N. experts warn
- 'Golden Bachelor' runner-up Leslie Fhima spent birthday in hospital for unexpected surgery
- 1 soldier killed and 12 injured in attack in Colombia blamed on drug cartel
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- US new vehicle sales rise 12% as buyers shake off high prices, interest rates, and auto strikes
- Military dad surprises second-grade son at school after 10 months apart
- Jimmy Kimmel strikes back at Aaron Rodgers after he speculates comedian is on Epstein list
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- NFL stars sitting out Week 18: Patrick Mahomes, Christian McCaffrey among those resting
Ranking
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- 2 New York men claim $1 million lottery wins on same day
- Ugandan police say gay rights activist in critical condition after knife attack
- Bachelor Nation Status Check: Gerry Turner and Theresa Nist Aren’t the Only Newlyweds
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- How Native familes make salt at one of Hawaii’s last remaining salt patches
- NATO to help buy 1,000 Patriot missiles to defend allies as Russia ramps up air assault on Ukraine
- Winter Running Gear Must-Haves for When It's Too Damn Cold Out
Recommendation
Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
As a missile hits a Kyiv apartment building, survivors lose a lifetime’s possessions in seconds
Xerox to cut 15% of workers in strategy it calls a reinvention
Puerto Rico comptroller strikes down popular slogan used by governor’s office
Rylee Arnold Shares a Long
CD rates soared for savers in 2023. Prepare for a tax hit this year.
Ciara Learns She’s Related to Derek Jeter
Mother and uncle of a US serviceman are rescued from Gaza in a secret operation