New Delhi, August 20 (PTI) India and Saudi Arabia agreed to deepen two -sided naval relations, the official statement said on Wednesday.
Both countries created a common working group (JWG) on maritime cooperation in the logistics and logistics sector, which meant a new chapter in a strategic partnership.
This decision was taken during a high-level virtual meeting between the Minister of the Union, Transport and Waterways of Sarbananda Sonowal and the Minister for Transport and Logistics Services of Saudi Arabia Saudi Arabia Saleh bin Nasser Al-Jasser.
According to Sonowal, he emphasized the historical and growing relationship between the two nations.
“India and Saudi Arabia share a century of old economic and socio -cultural ties, he said.”
The establishment of the Council for Strategic Partnership, co -chairwoman of the leaders of both countries, increased bilateral cooperation to new heights. Sonowal pointed out recent developments, including the start of the Jeddah – Mundra/Nhava Sheva route by the folk service of Saudi Arabia, which is expected to reduce times and costs.
He also proposed cooperation on the Indian Maitri digital platform to harmonize naval trade.
Saudi Arabia is an Indian fifth largest business partner, while India stands as the second largest business partner of the kingdom. Bilateral trade in FY 2024–25 was approximately $ 42 billion.
During the interviews Sonowal, he emphasized the complementarities between the Indian naval Vision 2030 and Amrit Kaal Vision 2047 with the Saudi vision 2030. India called on Saudi Arabia to explore investment prospects across the port and transport ecosystem.
The Fund for Naval Development with a corpus of more than $ 3 billion offers opportunities in port infrastructure, coastal transport and logistics. Mega projects such as Vadhavan on the west coast of India and the Outer Harbor project in the port of VO Chidambaranar in Tamil Nadu were introduced as a key investment destination.
(Tagstotranslate) India
