PM Modi in Saudi Arabia: Saudi Aramco to be part of petrochemical project, India keen on participation: Prime Minister Narendra Modi is on a two-day visit to Saudi Arabia from today (Tuesday). He left for Saudi Arabia on Monday. On Tuesday, PM Modi said in an interview to Arab News that India imports about 18% of its crude oil from Saudi Arabia, which is the second largest source of crude oil for us. We are now moving towards a closer strategic partnership that will include Saudi investment in downstream oil and gas projects.
Stable oil prices important for developing countries
He further said that we respect the Kingdom (Saudi Arabia) playing an important role as an important and reliable source of energy requirements. We believe that stable oil prices are important for the development of the global economy, especially for developing countries. The PM said that Saudi Aramco is participating in a large refinery and petrochemical project on the west coast of India. We are also keen on Aramco’s participation in India’s strategic petroleum reserves.
Saudi Arabia to host G20 summit next year
Speaking about the G20 Summit, he said that India and Saudi Arabia are working together to reduce inequality and promote sustainable development. I am happy to know that Saudi Arabia will host the G20 Summit next year And India in 2022, the 75th anniversary of our independence.
The PM said, “I believe that Asian powers like India and Saudi Arabia share the same security concerns in their neighborhood.” In this regard, I am happy that our cooperation in the area of terrorism, security and strategic issues, particularly in progress, is very good.
Will participate in FII forum session
For information, let us know that during this time Prime Minister Modi will meet King Salman bin Abdulaziz Al Saud of Saudi Arabia. Also, the two leaders will also attend the third session of the Future Investment Initiative (FII) Forum. At the same time, PM Modi will also meet with Crown Prince Mohammed bin Salman of Saudi Arabia. There will be bilateral talks between the two leaders. Significantly, Pakistan’s PM Imran Khan is also going to participate in FII.