Sources say that Modi’s visit to Saudi Arabia was initially planned for an earlier date but had to be postponed due to scheduling conflicts between the two sides.
NEW DELHI: A high-level delegation led by Prime Minister Narendra Modi is likely to visit Saudi Arabia in the coming weeks. While the exact dates have not been finalised, the visit, which is expected to occur at the end of April or beginning of May, will take place in one of the powerhouses of the Gulf, a country that has emerged as one of India’s closest allies over the past decade. Mohammed bin Salman (MBS), Crown Prince and Prime Minister of Saudi Arabia, has spearheaded significant reforms since assuming power, challenging aspects of the kingdom’s ultraconservative Wahhabi traditions and promoting a more open social and economic outlook.
The talks between the two countries are likely to revolve around energy security, regional stability, and economic partnerships, building on past engagements, including investments, and other strategic issues. The trade disruption caused by the recent tariff-related decision taken by the United States will also likely be discussed. Indian goods have been subjected to a 17% tariff, in addition to the 10% baseline that is common to all countries, while no additional tariffs, apart from the 10% baseline, have been imposed on Saudi Arabia.
Sources say that Modi’s visit to Saudi Arabia was initially planned for an earlier date but had to be postponed due to scheduling conflicts between the two sides. In the past decade, the heads of the two states have met five times, roughly once every two years, underscoring the mutual respect between the two countries. Since assuming office in May 2014, Modi has visited Saudi Arabia twice—once in April 2016 and again in October 2019.
In December 2024, Modi visited Kuwait but could not visit Saudi Arabia as initially planned because a mutually convenient date could not be finalised. Modi’s visit to Kuwait was historic, as it marked the first visit by an Indian Prime Minister in 43 years.
Modi’s first visit to Saudi Arabia in 2016 took place at the invitation of King Salman bin Abdulaziz Al Saud. It was part of a three-nation tour that also included Belgium and the United States. This two-day visit helped transcend and elevate bilateral relations beyond the traditional buyer-seller dynamic of energy, with discussions focusing on energy security, counterterrorism, and economic cooperation. The visit led to the establishment of the India-Saudi Strategic Partnership, as well as agreements on defence cooperation and intelligence sharing. Modi was later conferred Saudi Arabia’s highest civilian honour, the King Abdulaziz Sash, symbolising the goodwill he had built with the royal family.
In October 2019, Modi made his second visit to Saudi Arabia at King Salman’s invitation, coinciding with the third Future Investment Initiative (FII) Forum in Riyadh. This visit came amid heightened India-Pakistan tensions following the revocation of Article 370 in August 2019. During the visit, Modi delivered the keynote address at the FII Forum. Bilateral talks with King Salman and Crown Prince MBS (then Deputy Crown Prince) resulted in the launch of the India-Saudi Strategic Partnership Council, co-chaired by Modi and MBS, to oversee political, security, and economic cooperation. Additionally, the rollout of the RuPay card in Saudi Arabia, enhanced e-migration coordination, and plans for joint naval exercises were key outcomes, along with Saudi Arabia’s promise of a $100 billion investment.
Since 2014, Prime Minister Mohammed bin Salman, the de facto ruler of Saudi Arabia, has visited India three times in official capacities— in 2016, 2019, and 2023. His first visit to India took place in January 2016, when he was the Deputy Crown Prince and Minister of Defence. The visit laid the groundwork for Modi’s reciprocal visit in April 2016, establishing the India-Saudi Strategic Partnership. MBS was emerging as a key decision-maker, though not yet the Crown Prince.
MBS visited India again in February 2019 after being elevated to Crown Prince in June 2017. He was warmly received, in a rare gesture, by Modi at the airport. During this visit, he pledged over $100 billion in investment opportunities in India, spanning energy, infrastructure, and petrochemicals. Bilateral talks reinforced defence ties, counterterrorism efforts, and energy security. A notable humanitarian gesture from MBS was the release of 850 Indian prisoners from Saudi jails at Modi’s request, strengthening goodwill between the two nations. The visit also reflected India’s growing role in Saudi Arabia’s Vision 2030 diversification plans.
MBS’s most recent visit to India in September 2023 was for the G20 Summit and a State visit.
In fiscal year 2023-24, bilateral trade between India and Saudi Arabia reached $43 billion. This figure represents a slight contraction from the previous fiscal year’s peak of $52.76 billion, primarily due to the volatility of global oil prices and their impact on import values. Despite this, India’s export sector showed resilience, with exports to Saudi Arabia growing to $11.56 billion—an approximate 7.8% increase from the $10.72 billion recorded in FY 2022-23. Conversely, India’s imports from Saudi Arabia dropped significantly to $31.42 billion, down from $42.03 billion in the previous year, a decrease of about 25.2%.
This reduction was mainly driven by lower costs associated with crude oil imports, a major component of trade, which accounted for approximately 14-18% of India’s total crude imports. The Observatory of Economic Complexity (OEC) reported the value of crude oil imports from Saudi Arabia at $23.6 billion for calendar year 2023.
In terms of global trade standings, Saudi Arabia emerged as India’s fifth largest trading partner, while India remains Saudi Arabia’s second largest trading partner, highlighting the continued significance of this economic relationship for both nations. Since 2019, Saudi Arabia has invested approximately $3–5 billion in India, with the $2.79 billion investment in Reliance stakes as a cornerstone, supplemented by smaller investments in startups and renewable energy projects.