Narendra Modi signs several agreements in Saudi Arabia after addressing FII; countries form Strategic Partnership Council
Narendra Modi, who is on a two-day visit to Saudi Arabia to attend the Future Investment Initiative, held talks with Saudi King Salman bin Abdulaziz and powerful Crown Prince Mohammed bin Salman and inked over a dozen agreements in several key sectors.
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Prime Minister Narendra Modi was on a two-day visit to Saudi Arabia to attend the Future Investment Initiative (FII) in Riyadh and held talks with Saudi King Salman bin Abdulaziz and powerful Crown Prince Mohammed bin Salman. The two of them inked over a dozen agreements in several key sectors. PTI
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During his keynote address at the Initiative, Modi called upon global investors to benefit from India’s vibrant start-up ecosystem, which stands as the third-largest in the world, adding that he firmly believes that any investment in India’s innovation sector would yield huge returns. PTI
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He further called FII a brilliant initiative, and added that that the aim of the forum is not only to discuss the economic system but also to understand the rising trends of the world and look for ways aimed at global welfare. AP
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The two sides reaffirmed their deep commitment to strengthening the strategic partnership envisaged in the ‘Riyadh Declaration’ of March 2010, a joint statement issued at the end of Modi’s visit said.
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After the delegation-level talks, the two sides signed an agreement to establish the India-Saudi Arabia Strategic Partnership Council to coordinate decisions regarding strategically important issues. PTI
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The two leaders signed agreements in sectors like oil and gas, defence and civil aviation, and after Modi held extensive talks with the Kingdom’s top leadership, the aforementioned Strategic Partnership Council was established. PTI
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Saudi Arabia, known to be a key ally of Pakistan, has also been siding with India in its campaign to rid the region of terrorism and pledged to extend all cooperation to effectively deal with the challenge. PTI
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The two sides also vowed to further enhance defence industries collaboration and security cooperation. The first naval exercise between the two nations will take place by the end of this year or early next year. PTI
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