In a significant step to deepen economic engagement between India and Saudi Arabia, the High-Level Task Force on Investments held a pivotal meeting in Riyadh on Monday, April 21, ahead of Indian Prime Minister Narendra Modi’s two-day official visit to the Kingdom. The meeting was co-chaired by Dr. P. K. Mishra, Principal Secretary to the Indian Prime Minister, and His Royal Highness Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy. The meeting, announced by the Indian Embassy in Saudi Arabia via a post on X (formerly Twitter), addressed a broad spectrum of investment-related matters, with both nations reaffirming their commitment to strengthening bilateral economic ties across energy, infrastructure, and new-age sectors.
“India-Saudi High Level Task Force on Investments held its meeting in Riyadh on April 21. The meeting co-chaired by Dr. P. K. Mishra, Principal Secretary to Hon’ble PM & HRH Prince Abdulaziz bin Salman, Minister of Energy, discussed wide-ranging issues of mutual importance,” the Embassy posted.
Strengthening a Strategic Economic Partnership
Indian Ambassador to Saudi Arabia, Suhel Ajaz Khan, emphasized the centrality of economic cooperation in the evolving Indo-Saudi relationship, calling it one of the “fulcrums” of bilateral ties. The Task Force, he noted, was formed following Crown Prince Mohammed bin Salman’s visit to India in 2023, and serves as a high-level platform to facilitate mutual investments and joint ventures.
“The Task Force reviewed several initiatives to promote ease of doing business, streamline investment procedures, and unlock new opportunities in energy, infrastructure, and innovation-driven sectors,” said Ambassador Khan in an interview with ANI. This strategic meeting comes as Saudi Arabia looks to expand its footprint in the Indian energy market amidst shifting global dynamics, particularly a slowdown in Chinese demand. Riyadh is reportedly open to offering oil to India at concessional rates in a bid to boost its share in New Delhi’s crude import basket.
PM Modi’s Third Visit to the Kingdom
Prime Minister Narendra Modi arrived in Jeddah from April 22 to 23 at the invitation of Crown Prince Mohammed bin Salman. This marks his third official visit to Saudi Arabia, following previous trips in 2016 and 2019, underscoring the growing strategic convergence between the two nations. In an exclusive interview with Arab News ahead of his visit, PM Modi highlighted the robust growth of the India-Saudi partnership, stating that both countries are exploring joint ventures in petrochemicals and refining. “We are now working on feasibility studies for electricity grid interconnectivity between India and Saudi Arabia and the wider region,” he revealed, pointing to a future of integrated energy cooperation.
Recognizing the Indian Diaspora
PM Modi also paid tribute to the 2.7 million-strong Indian diaspora residing in Saudi Arabia, calling them a “living bridge” between the two nations. He praised their contributions and reaffirmed his government’s commitment to their welfare. “We are deeply grateful to Their Royal Highnesses, King Salman and Crown Prince Mohammed bin Salman, for the patronage they have provided to the Indian community,” said PM Modi. “We can never forget how they took care of the Indians as one of their own during the difficult times of the Covid pandemic.” PM Modi reiterated his government’s diaspora engagement strategy based on the “4Cs” — Care, Connect, Celebrate, and Contribute — which includes schemes for insurance, education, skill development, and safe migration.
Expanding Cultural and Educational Ties
The Prime Minister also spoke about the strengthening of cultural, educational, and religious connections. From the increasing popularity of yoga and Indian cinema to the facilitation of Hajj and Umrah pilgrimages, Modi expressed gratitude for the Saudi leadership’s support in promoting people-to-people links.
“Yoga has gained considerable popularity in Saudi Arabia over recent years, thanks to the encouragement and support of the Saudi government,” he noted. He also invited Saudi Arabia to participate in the upcoming World Audio Visual and Entertainment Summit in Mumbai from May 1–4, to further deepen cultural collaboration.
Looking Ahead
As PM Modi embarks on his third visit to Saudi Arabia, the outcomes of the High-Level Task Force meeting and the broader strategic engagements are expected to pave the way for new economic corridors, energy partnerships, and cultural exchanges. With both countries aligned on a vision of sustainable development and shared prosperity, the India-Saudi Arabia relationship appears poised for a new era of transformation.
