India and Saudi Arabia take bilateral relationship to new heights

Crown Prince Mohammed bin Salman, India’s President Ram Nath Kovind, center,and Indian leader Narendra Modi at a ceremonial reception. (AFP)
Updated 21 February 2019
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India and Saudi Arabia take bilateral relationship to new heights

  • Indian PM Narendra Modi heralds Crown Prince Mohammed bin Salman’s visit on a day that delivers a strategic partnership
  • The crown prince said that the tie between India and Saudi Arabia goes back in history and “flows in our blood”

NEW DELHI: India and Saudi Arabia have taken their bilateral relationship to new heights with a decision to set up a Strategic Partnership Council and hold a summit meeting every two years.

The move was agreed during discussions between Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi in New Delhi on Wednesday that yielded five memorandums of understanding in investment, tourism, housing, and information and broadcasting. 

The Saudi crown prince also announced a $100 billion investment in India in areas including energy, refining, petrochemicals, infrastructure, agriculture and manufacturing. 

Saudi Arabia is also investing in the IT industry, and India can help the Kingdom expand and strengthen its “IT footprint,” he said.

Meanwhile, New Delhi announced e-visa facilities for Saudi citizens to promote trade and tourism. 

The two leaders spoke one-on-one before the start of delegation-level talks. The Saudi crown prince’s visit has “given a new momentum to our age-old relationship,” Modi said in a joint press conference after the meeting.

Modi told the media that Saudi Arabia has agreed to become part of the International Solar Alliance, a group of “solar resource-rich countries” initiated by India to promote solar energy.

The “time has come to convert our energy relationship into a strategic partnership,” he said. “The biggest refinery in the world and Saudi participation in India’s strategic petroleum reserve elevate our relationship from a mere buyer-and-seller relationship.”

Speaking at the joint press conference, the Saudi crown prince agreed. “We are now diversifying our interests in petrochemicals and building storage capacities. We want to cooperate with India, and this will give a new momentum to our relationship,” he said.

The crown prince said that the tie between India and Saudi Arabia goes back in history and “flows in our blood.”

Recalling the visit of Modi to Riyadh in 2016, he said that “since then we have made great strides, and Saudi Arabia has made the investment of $44 million.”

Earlier in the day, the crown prince met with the media at the presidential palace. “The relationship between India and Saudi Arabia is in our DNA,” he explained. “Today, we want to be sure that the relationship is maintained and improved for the sake of both countries, and with the leadership of Mr. President and the Prime Minister, we can create good things for both countries.”

The crown prince expressed his admiration for Modi. “He is the elder brother and I am his younger brother.”

On the sidelines of yesterday’s talks, 400 business leaders from India and Saudi Arabia gathered in the capital under the banner of the Saudi India Forum to discuss opportunities for business cooperation.

“India and Saudi Arabia are undergoing a paradigm shift, and both countries need to cooperate strategically to realize the potential of the change,” said Dr. Faisal Al-Sugair, head of the Saudi Center for International Strategic Partnerships, in his inaugural address. 

“We want Indian companies to become strategic partners in Saudi Arabia’s march to realize (the) 2030 Vision.”

Yousef Al-Benyan, of the Saudi petrochemical company Sabic, said that “both India and Saudi Arabia are undergoing transformation, and at this stage we can do so many things together to realize the potential of the young generation.”

Azim Premji, of the Indian IT company Wipro, underlined the importance of “using India’s IT know-how” to access the knowledge and service industry in the country.

Indian foreign policy experts see the crown prince’s tour as a landmark development. “Mohammed bin Salman’s visit marks a paradigm shift in the relationship between New Delhi and Riyadh,” said Dr. Zakir Hussain, a New Delhi-based foreign policy expert. 

“The visit reveals  a mature partnership, and underscores the importance both countries place on each other’s growth and prosperity,” he said. 

 

 


MiSK, Qiddiya team up for internship program 

Updated 18 min 48 sec ago
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MiSK, Qiddiya team up for internship program 

  • Interns will work on entertainment mega-project
  • Program open to university seniors and new graduates

RIYADH: A new internship program for young Saudis has been launched in the Kingdom, following a partnership between Misk Foundation and the Qiddiya Investment Company (QIC).

The program runs from June 16 to Aug. 31, 2019, and provides an opportunity for university seniors and recent graduates to be part of Qiddiya, an entertainment mega-project located 40 minutes from Riyadh.

Interns will have the chance to work at Qiddiya’s corporate offices alongside professionals from around the world and will be placed across 12 departments.

They will learn and develop skills that are required to succeed in their professional lives.

They will also gain exposure to QIC’s culture and learn from executives with over 20 years of experience across several sectors. 

QIC CEO Mike Reininger said: “We are contributing directly to the Saudi Vision (2030 reform plan) by creating a richer lifestyle for Saudi citizens while spurring innovation in the creative, hospitality and entertainment sectors. This unique opportunity allows students and fresh graduates to experience what it takes to be part of the change in Saudi by giving them the chance to work alongside a group of both local and international seasoned professionals. Thanks to this partnership with MiSK, we will be training the next generation of industry leaders.” 

Application to the program is open for those with fewer than two years of professional experience. Candidates must show strong academic credentials and submit a short video as part of their application.

King Salman led the Qiddiya ground-breaking ceremony in front of a global audience last April.

The project is aimed at helping to stem the $30 billion a year which Saudis currently spend abroad on tourism, and has the backing of the Kingdom’s Public Investment Fund.

It targets local, regional and international tourists and will be Saudi Arabia’s preeminent entertainment, sports and cultural destination.

It is expected to be the world’s largest entertainment city by 2030, with a total area of 334 square kilometers, surpassing Walt Disney World in Florida, which is only 110 sq. km.