Saudi Crown Prince Mohammed bin Salman is making his maiden trip to India this month with energy and trade to be at the centre of discussion with Indian leadership. The 33-year-old prince, often mentioned to by his initials MBS, is expected to first travel to Pakistan on February 16, and will then travel to Malaysia before finally arriving in New Delhi in the fourth week of February.?
According to reports, India is expected to urge the Saudi businesses to participate in flagship schemes like ¡°Startup India¡± and ¡°Smart city projects¡±.
World¡¯s largest oil exporter, Saudi Arabia, is India¡¯s major security partner. The visit is expected to result in more investments from the Gulf country especially in the infrastructure.
Lately, Saudi Arabia has sent out positive messages to India. In 2018, the kingdom chose India as ¡®Guest of Honour¡¯ at the Janadriya Festival. External Affairs Minister Sushma Swaraj paid a visit and participated in the festival.
The upcoming visit is important as it is set to take place the same month Israeli prime minister Benyamin Netyanhu, another important partner of India is expected to visit New Delhi.
The visit also coincides with significant developments in the West Asian region where war in Syria is coming to an end and war in Yemen is expected to arrive at a solution soon.
The Indian investments in Saudi Arabia amount to $ 1.5 billion while the gulf nation¡¯s investments here amount a nominal $16 million.
Saudi Arabia is India¡¯s fourth largest trading partner after China, the US and the UAE.?
According to a report by Hindustan Times, ¡°Bilateral trade increased 9.56 per cent to $27.48 billion during 2017-18, with India¡¯s imports accounting for $22.06 billion, an increase of 10.50 per cent over the previous fiscal, while exports to Saudi Arabia were worth $5.41 billion, an increase of 5.88 per cent.¡±