Tuesday’s meeting in Jiddah, led by Prime Minister Narendra Modi and his counterpart His Royal Highness Prince Mohammed bin Salman, reviewed the work of the several committees and working groups of the SAC, which cover politics, defense, security, trade, investment, culture, energy, technology, agriculture, and people-to-people relations.

As a result, the Council set up four new ministerial committees for cooperation in defense, tourism and culture, politics, consular and security affairs, economics, energy, investment, and technology, Modi’s Office noted in a statement.

The High Level Working Group on Investment agreed to promote Saudi Arabia’s contribution of 100 billion dollars in energy, petrochemicals, infrastructure, technology, financial technology, digital infrastructure, telecommunications, pharmaceuticals, manufacturing, and healthcare.

Both sides agreed to collaborate on establishing two refineries in India, and the HLTF’s progress in taxation is an important step forward for future cooperation, the official source stated.

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