‘India- Saudi’ ties promise of shared growth in the economy.


India is still a developing country and it will take some more time to develop . It will be the fastest growing economy this year with 7% of growth , says the External Affair Minister. Underlining the importance of the strategic relationship between India and Saudi Arabia, External Affairs Minister ‘S

.Jaishankar’ said on September 11, 2022, that the “collaboration holds the promise of shared growth, prosperity, stability, security, and development.”

S.Jaishankar‘ who reached Riyadh on Saturday, is on a 3 day visit to Saudi-Arabia. He addressed diplomats at the Prince Saud Al Faisal Institute of Diplomatic Studies in Riyadh on Sunday, where he “underlined the importance of India-Saudi strategic relationships at a time when the world is at crossroads”. He saw the strength of the Indian community during Covid. Jaishankar said Saudi Arabia was “very helpful” during the Covid-19 pandemic.Talking about the current geopolitical situation, he said the world is facing many challenges, like rising food, oil and shipping prices due to the Ukraine crisis.

Saudi Arabia has been very helpful through our tough time by supplying oxygen in need of time. It’s India’s fourth largest trading partner More than 18 per cent of India’s crude oil imports are sourced from Saudi Arabia. During FY22 (April-December), bilateral trade was valued at $29.28 billion. During this period, India’s imports from Saudi Arabia were valued at $22.65 billion and exports to Saudi Arabia were worth $6.63 billion.The 2.2-million-strong Indian community is the largest expatriate community in Saudi Arabia, according to the Indian embassy.

In Riyadh, Jaishankar also met with the Gulf Cooperation Council (GCC) Secretary-General Nayef Falah Mubarak Al-Hajraf – the two leaders signed an MoU on the mechanism of consultations between India and the six-nation regional bloc.The top leadership of both countries remained in close touch even during the COVID-19 pandemic, the External Affairs Ministry said in a statement. Promises will be kept and India will see growth in coming few years.

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