In his comprehensive account of Mohammed bin Salman’s rise to power, journalist Ben Hubbard portrays the Saudi Crown Prince as an enigmatic leader, revered by some as a transformative figure and denounced by others as a potential tyrant. The recent visit of Prince Mohammed to New Delhi for the G20 Leaders’ Summit marked a milestone in the relationship between Saudi Arabia and India. During the summit, attended by Prime Minister Narendra Modi and President Joe Biden, the announcement of the India-Middle East-Europe Economic Corridor showcased a grand vision of infrastructure development that could rival China’s Belt and Road Initiative.
Prince Mohammed’s extended stay in India allowed for a State Visit and the inaugural meeting of the India-Saudi Arabia Strategic Partnership Council, co-chaired by Prince Mohammed and Modi. This significant occasion witnessed the signing of eight agreements, including an upgrade of the existing hydrocarbon energy partnership to a comprehensive energy partnership encompassing renewable energy, petroleum, and strategic reserves. Moreover, a joint task force was established to facilitate $100 billion of Saudi investment, with discussions centered around the potential for trade in local currencies and the acceleration of negotiations for a free trade agreement between India and the Gulf Cooperation Council, of which Saudi Arabia is a member.
Prime Minister Modi, recognizing the paramount importance of Saudi Arabia as a strategic partner, highlighted the long-standing and amicable relations between the two nations. Their diplomatic ties, established in 1947, have always been characterized by the intertwining of socio-cultural, economic, and historical bonds.
The visit of King Abdullah to India in 2006 was a turning point, culminating in the Delhi Declaration. In 2010, the Riyadh Declaration elevated the bilateral relationship to a strategic partnership, emphasizing the ever-growing cooperation between the two countries. Prime Minister Modi’s visit to Riyadh in 2016 further highlighted the deepening ties, with King Salman conferring upon him the esteemed King Abdulaziz Sash, a symbol of the significance Saudi Arabia attaches to its association with India.
The momentum of the relationship was intensified by Crown Prince Mohammed’s visit to India in 2019. The Kingdom’s commitment of approximately $100 billion in investment further solidified the partnership and resulted in the signing of six memoranda of understanding and agreements spanning various sectors. The joint efforts also paved the way for Saudi Arabia to join the International Solar Alliance, a testament to their collective pursuit of sustainable development.
Modi’s subsequent visit to Riyadh in 2019 witnessed the signing of the Strategic Partnership Council (SPC) Agreement. This landmark agreement established a high-level council to steer the bilateral relationship, with dedicated subcommittees covering political, security, social, cultural cooperation, as well as economic and investment collaborations. Twelve bilateral agreements were inked during the visit, sealing the commitment to a multifaceted partnership.
India and Saudi Arabia share a comprehensive relationship built upon four pillars:
1) ECONOMIC TIES: The economic synergy between both nations is significant, with Saudi Arabia being India’s fourth-largest trade partner and India ranking as Saudi Arabia’s second-largest trade partner. The bilateral trade volume in the fiscal year 2022-23 reached $52.76 billion, marking a notable growth of over 23%. This robust economic engagement extends to investments, with Indian companies such as L&T, Tata, Wipro, and TCS establishing a strong presence in Saudi Arabia. Saudi direct investments in India amount to $3.15 billion, exemplified by notable investors like Aramco and SABIC. Major joint ventures, including the West Coast Refinery & Petrochemicals Project, further underscore the economic interdependence between the two nations.
2) ENERGY COOPERATION: Saudi Arabia plays a crucial role in ensuring India’s energy security, as it emerged as India’s third-largest source of crude oil and petroleum products in the fiscal year 2022-23. With 39.5 million metric tonnes of crude oil imports and 7.85 million metric tonnes of LPG imports, Saudi Arabia constitutes a vital component of India’s energy strategy.
3) DEFENCE PARTNERSHIP: The defence partnership between India and Saudi Arabia has experienced remarkable growth. Notable instances include the historic visit of Army Chief General Manoj Mukund Naravane to Saudi Arabia in 2020 and the successful completion of bilateral naval exercises. The joint statement emphasizes the significance of defence collaboration, including joint exercises, training, high-level visits, and explores possibilities for joint development and production of defence equipment.
4) INDIANS IN SAUDI: The Indian community in Saudi Arabia, surpassing 2.4 million individuals, is held in high regard for their contributions to the kingdom’s development. This vibrant community serves as a living bridge between India and Saudi Arabia, fostering cultural and people-to-people exchanges. The joint statement highlighted Saudi Arabia’s commitment to ensuring the well-being of the Indian diaspora and extending support during unprecedented circumstances like the evacuation of Indian nationals and facilitating Hajj and Umrah pilgrimages.
Mohammed bin Salman, with his bold Vision 2030, has positioned himself as a transformative force in Saudi society. His efforts to liberalize and modernize the ultra-conservative country have earned him international acclaim, with milestones such as granting women the right to drive and hosting cultural events that were previously unthinkable. However, critics cite his heavy-handed tactics, such as the alleged involvement in the killing of journalist Jamal Khashoggi and the far-reaching anti-corruption campaign, as evidence of his ruthlessness.
Despite these complexities, Mohammed bin Salman’s engagement with global powers, including China, Israel, and now India, demonstrates his vision for Saudi Arabia’s future. His commitment to a shining and prosperous future resonates with his actions, prompting New Delhi to capitalize on every opportunity to cultivate a mutually beneficial relationship with the young Crown Prince.
