S'abonner

Modi strengthens Indo-Saudi energy partnership during visit to Jeddah

Narendra Modi is on an official visit to Saudi Arabia to consolidate energy and trade ties between India and Riyadh, a key strategic supplier of crude oil to New Delhi.

Share:

Indian Prime Minister Narendra Modi has begun a two-day official visit to Saudi Arabia, marking his third trip to the kingdom since 2014. This diplomatic mission aims to deepen a strategic partnership based on energy supply, trade exchanges, and the presence of a large Indian community in the Gulf region.

Crude oil imports and sectoral cooperation

India’s rapidly growing economy relies heavily on crude oil imports to meet rising domestic demand. According to data from the Ministry of External Affairs (India), Saudi Arabia ranks as India’s third-largest crude supplier. This energy link stands at the core of the Indian Prime Minister’s agenda in Jeddah.

In a statement released by his office, Narendra Modi highlighted the “strategic and dynamic” nature of the bilateral relationship. Scheduled talks include discussions on supply volumes, price stability, and cooperation on joint industrial projects. Riyadh is also seeking increased Indian investment in national infrastructure under its Vision 2030 initiative.

Labour mobility and financial transfers

Beyond trade, the relationship is reinforced by the presence of over two million Indian workers in Saudi Arabia, according to the 2022 Saudi census. This group forms the second-largest foreign community in the kingdom after Bangladeshi nationals.

These workers play a significant role in building the large-scale projects promoted by Crown Prince Mohammed bin Salman, and their remittances are a vital source of income for numerous families in India. Narendra Modi is expected to meet with members of the Indian community during the visit.

Diplomatic alignment and international trade

This visit comes amid a busy diplomatic calendar for New Delhi, which recently hosted U.S. Vice President JD Vance to negotiate a trade agreement aimed at avoiding a 26% tariff on Indian exports to the United States.

Furthermore, the upcoming visit of the U.S. President to Saudi Arabia, scheduled for May, amplifies the strategic relevance of this round of bilateral meetings. The previous ties of both Narendra Modi and Mohammed bin Salman with former President Donald Trump add a geopolitical layer to the energy and trade-focused discussions.

  • Populaires ​
U.S. Midstream: Gas pipeline projects shift focus to West and Northeast
OPEC Cuts Forecasts but Anticipates Rising Oil Demand
Global business leaders gather in Beijing for inaugural SMI China forum on sustainable innovation
Nuclear Waste in France: Experts Call for Strengthened Safety Measures
bp sells its US onshore wind assets to LS Power as part of divestment strategy
European Union tightens sanctions on Russian oil to increase diplomatic pressure
The European Union lowers the price cap on Russian crude oil and extends sanctions to vessels and entities involved in circumvention, as coordination with the United States remains pending.
Brasilia Prepares Trade Countermeasures Amid New U.S. Tariffs of 50%
Brazil adopts new rules allowing immediate commercial measures to counter the U.S. decision to impose an exceptional 50% customs tariff on all Brazilian exports, threatening stability in bilateral trade valued at billions of dollars.
European Commission Warns on Chinese Competition, International Agencies Respond
Several international agencies have echoed warnings by Teresa Ribera, Vice-President of the European Commission, about commercial risks related to Chinese competition, emphasizing the EU's refusal to engage in a price war.
EBRD Lends €400 Million to Moldova to Secure Energy Supply
The European Bank for Reconstruction and Development lends €400 million to JSC Energocom to diversify Moldova's gas and electricity supply, historically dependent on Russian imports via Ukraine.
BRICS Launch Their Own Climate Finance Framework and Reject CBAM
BRICS adopt a joint financial framework aimed at supporting emerging economies while criticizing European carbon border tax mechanisms, deemed discriminatory and risky for their strategic trade relations.
The European Union creates a strategic alliance to secure critical chemical supplies
The European Commission is launching an alliance with member states and industrial players to secure the supply of critical chemicals, amid growing competition from the United States and China.
Russia-Saudi Arabia trade increases by 60% to USD 3.8 billion
Trade between Russia and Saudi Arabia grew by over 60% in 2024 to surpass USD 3.8 billion, according to Russian Minister of Industry and Trade Anton Alikhanov, who outlined new avenues for industrial cooperation.
BRICS Advocate for Energy Market Stability Amid Sanctions
Meeting in Rio, BRICS nations urge global energy market stability, openly condemning Western sanctions and tariff mechanisms in a tense economic and geopolitical context.
Iran: Oil Dependence Limits Alliances with Moscow and Beijing
Despite strong ties, Iran's dependence on oil revenues limits its ability to secure substantial strategic support from Russia and China amid current international and regional crises, according to several experts.
Egypt strengthens energy cooperation with six Chinese groups at Shanghai summit
Egypt’s Electricity Minister engages in new talks with Envision Group, Windey, LONGi, China Energy, PowerChina, and ToNGWEI to boost local industry and attract investments in renewable energy.
Hormuz Threat: Producing Countries Face an Imminent Diplomatic Crisis
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Hungary and Slovakia jointly oppose European ban on Russian energy
Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
Libya Denounces Greek Oil Exploration off the Coast of Crete
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Hungary firmly opposes European plan on Russian energy
Hungary, supported by Slovakia, strongly expresses opposition to the European Commission's plan to phase out imports of Russian energy resources, citing major economic and energy impacts for Central Europe.
Israel strikes Natanz: underground facilities intact according to IAEA
Israeli military strikes on Iran's Natanz nuclear site destroyed critical electrical infrastructure but did not reach strategic underground facilities, according to the International Atomic Energy Agency (IAEA).
Macron presents a united European front in Greenland amid US ambitions
The French president travels to Nuuk on 15 June to support Greenlandic sovereignty, review energy projects and respond to recent US pressure, according to the Élysée.
visite souveraineté arctique Macron
Kazakhstan selects Russia and China for its first nuclear power plants
Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
Israel strikes Iran, uncertainty over US nuclear negotiations in Oman
Israeli strikes against Iranian nuclear sites disrupt US-Iranian talks on the nuclear deal. Tehran now considers canceling the upcoming negotiation round in Oman, heightening regional economic concerns.
Israel Strikes Iranian Nuclear Facilities After Critical Uranium Enrichment Levels
Facing alarming breaches of uranium enrichment thresholds by Iran and explicit existential threats, Israel launches targeted military strikes against Iranian nuclear infrastructure, escalating regional tensions dramatically.
Putin proposes mediator role between Washington and Tehran over Iran’s nuclear issue
The Kremlin has confirmed that Vladimir Putin aims to help resolve the nuclear dispute between the United States and Iran, leveraging strengthened strategic ties with Tehran.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING