Speaking to reporters following the state visit of Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman, Ausaf Sayeed, external affairs secretary (consular, passport, visa and overseas Indian affairs), said the talks were at the “discussion stage”.
“The two sides have started discussing this. It is only at a discussion stage; proposals and concept notes have been exchanged. The Saudi side is aware that we have worked out similar arrangements with other countries in the region,” Sayeed said.
“The two leaders expressed their satisfaction at the volume of trade both countries have reached, India being the second-largest trading partner of Saudi Arabia, and Saudi being the fourth-largest trading partner of India,” he added, commenting on the talks between Prime Minister Narendra Modi and Mohammed bin Salman.
India’s trade with Saudi Arabia in 2022-23 amounted to $52.76 billion, with exports at $10.73 billion and imports at $42.04 billion. As such, India had a trade deficit of $31.31 billion with Saudi Arabia in the last financia year.
