NEW DELHI: India and Saudi Arabia have agreed to deepen cooperation across multiple strategic sectors, including defence, investment, culture, and space after a meeting between Prime Minister Narendra Modi and Prince Mohammed bin Salman.
The announcement came during the second meeting of the India-Saudi Arabia Strategic Partnership Council (SPC) the two leaders.
The leaders agreed to establish a new Ministerial Committee on Defence Cooperation to oversee joint military exercises, training, and industrial partnerships.
The Council also announced creation of a Ministerial Committee on Tourism and Cultural Cooperation.
A key highlight was the progress made by the High-Level Task Force on Investment. Saudi Arabia reaffirmed to invest $100 billion in India across energy, petrochemicals, infrastructure, technology, economy, telecommunications, pharmaceuticals, manufacturing, and healthcare. Both sides agreed to jointly establish two new oil refineries in India.
Progress on taxation frameworks was also noted as a major breakthrough to further ease bilateral investment flow. MoUs were signed for space collaboration, public health cooperation, and anti-doping education. A pact was signed between Saudi Post and India Post.