Although the date and planned activities have not been officially announced, sources claim it would be a short working visit before heading to Bali. The Saudi Crown Prince is visiting the country at the invitation of Prime Minister Narendra Modi.
It was previously reported that Dr. S. Jaishankar, the Minister of Foreign Affairs, to whom the Crown Prince delivered a letter from Prime Minister Modi during his visit to Riyadh in September.
The visiting Crown Prince is due to meet PM Modi, S. Jaishankar, the Foreign Minister and Ajit Doval, the National Security Advisor, in New Delhi. Other areas of cooperation the two sides are expected to focus on are defense cooperation and arms exports.
According to sources, the Pune-based Kalyani Group has reportedly struck a US$155 million (more than Rs.1,200 billion) deal for the self-developed 155mm artillery gun platform.
The leaders will also discuss the Saudi government’s desire to increase its presence in the Indian petrochemical industry. The visit leader is likely to discuss establishing mutual halal certification institutions to prevent abuse. He or she will also likely assess the status of the undersea power transmission lines connecting this nation to India.
Trading in Rupee Riyals, the introduction of Rupay and UPI are all covered.
There is an expectation that there could be some relief during the talks as Saudi Arabia is a major oil exporter to India.
Saudi Arabia-led OPEC is already reportedly receiving flak for cutting oil production from this month. Although the US is not happy with this decision, experts believe it will push global inflation even higher.
Washington is unhappy with OPEC’s Saudi-led decision to cut production quotas by about 2 million barrels a day. In fact, Saudi Arabia has been threatened by the Biden administration with undefined repercussions.
Prince Abdulaziz Bin Salman, Saudi Arabia’s energy minister, recently traveled to India, and Jaishankar visited Riyadh in September this year.