India-Saudi Arabia Joint Statement during the State Visit of His Royal Highness the Crown Prince of Saudi Arabia to India 5 New Delhi
His Royal Highness the Crown Prince reiterated the Kingdom's commitment to meet India's growing needs for crude oil and petroleum products and substitute for any shortages that may arise as a result of any disruptions from other sources.
The Prime Minister also welcomed the Kingdom's participation in the India's Strategic Petroleum Reserves (SPRs).
The Prime Minister of India welcomed the decision of the Saudi side to join the International Solar Alliance. Both sides noted the potential cooperation in the renewable energy sector not only in investment but also in research and development.
The two sides also agreed to cooperate in the areas of space, science and technology, including remote sensing, satellite communication and satellite-based navigation.
The two sides agreed to set up a Joint Working Group on Skill Development to identify areas of cooperation, where the two countries can benefit from each other's core competencies in important fields such as manufacturing, information technology, communications, and programming.
The two sides welcomed the recent developments in India-Saudi co-operation in the defence sector, particularly in the fields of exchange of expertise and training, especially after the MoU on Defence Cooperation signed during the visit of His Majesty King Salman bin Abdulaziz Al Saud to India in February 2014. In this context, they welcomed the outcomes of the recently held 4th Joint Committee on Defence Cooperation in Riyadh on 2-3 January, 2019.
The two sides agreed to hold the inaugural joint naval exercises at the earliest and agreed to further expand bilateral exercises in other domains.
Noting the potential and mutual benefit, the two sides agreed to cooperate and collaborate in joint defence production of spare parts for Naval and Land systems as well as supply chain development, in line with 'Make in India' and 'Vision 2030'.
Source: Saudi Press Agency