Wednesday, November 30, 2022

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MBS to visit India next week on Modi’s invitation ahead of G20 Summit in Bali

New Delhi: The Crown Prince of Saudi Arabia and Prime Minister of the Kingdom of Saudi Arabia (KSA), Mohammed bin Salman, will visit India on November 14 ahead of the G20 Leaders Summit in Bali, Indonesia the following week. Energy and food security, as well as expanding commerce and investments, will be the main topics of discussion during the visit.

Although the date and the planned activities have not been made official announcements, sources claim that it would be a brief working visit before he departs for Bali. On the invitation of Prime Minister Narendra Modi, the Saudi Crown Prince is visiting this country.

It was previously reported that Dr. S. Jaishankar, the minister of external affairs, gave the Crown Prince a letter from Prime Minister Modi during his September visit to Riyadh.

The visiting Crown Prince will meet with PM Modi, S Jaishankar, the minister of external affairs, and Ajit Doval, the national security adviser, while in New Delhi. Other areas of cooperation that the two sides are anticipated to concentrate on include defence cooperation and defence exports.

According to sources, the Pune-based Kalyani Group reportedly secured a deal for the homegrown 155mm Artillery Gun platform worth $155 million (more than Rs 1,200 crore).

The leaders will also talk about the Saudi government’s desire to increase its presence in India’s petrochemical industry. The visiting leader will likely discuss the establishment of mutual Halal certification institutions in an effort to prevent misuse. He or she will also likely assess the status of the undersea electricity transmission lines connecting that nation with India.

Trade in Rupee-Riyals, the launch of Rupay, and UPI will all be covered.

There is anticipation that there may be some relief during discussions because Saudi Arabia is a significant oil exporter to India.

OPEC, led by Saudi Arabia, is reportedly already receiving flak for reducing oil production starting this month. Although the US is not happy with this decision, experts believe it will cause global inflation to rise even more.

Washington is dissatisfied with OPEC’s decision to reduce output quotas by approximately 2 million barrels per day under Saudi leadership. In actuality, Saudi Arabia has been threatened by the Biden administration with undefined repercussions.

Prince Abdulaziz Bin Salman, the Saudi Arabian minister of energy, recently travelled to India, and Jaishankar visited Riyadh in September of this year.

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