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India and Saudi Arabia have similar security concerns in neighbourhood: Modi

India and Saudi Arabia have similar security concerns in their neighbourhood and that Indo-Saudi counter-terror cooperation is progressing very well. PM Modi stressed upon continued cooperation on counterterrorism, security and strategic issues.

, ET Bureau|
Oct 29, 2019, 10.45 AM IST
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ANI
India and Saudi Arabia have similar security concerns in neighbourhood: Modi
Prime Minister Narendra Modi emplanes for a two-day visit to Saudi Arabia, in New Delhi on Monday.
RIYADH: India and Saudi Arabia have similar security concerns in their neighbourhood and that Indo-Saudi counter-terror cooperation is progressing very well, PM Narendra Modi asserted on Tuesday.

“I believe that Asian powers like India and Saudi Arabia share similar security concerns in their neighborhood. In that respect, I am happy that our cooperation, particularly in the field of counterterrorism, security and strategic issues, is progressing very well. My national security adviser just visited Riyadh for a very productive visit,” Modi told local leading English media Arab News on the occasion of his visit to Riyadh.

“We have a Joint Committee on Defense Cooperation that holds regular meetings. We have identified a number of areas of mutual interest and cooperation in the field of defense and security. We are also in the process of entering into agreements on security cooperation, collaboration in defense industries, and also agreed to hold a comprehensive security dialogue mechanism between the two countries,” the PM informed.

“We believe that a balanced approach is required to resolve the conflicts, while respecting the principles of sovereignty and non-interference in each other’s internal matters. India shares excellent bilateral relations with all the countries in the region, and a very large Indian diaspora, numbering over 8 million, resides in the region. A dialogue process that encourages the participation of all stakeholders is important to bring peace and security to this very important region,” he noted indirectly suggesting dialogue between regional powers.

Pointing out that India has undertaken many reforms to create a business-friendly environment, the PM said, “…Our reforms for ease of doing business and introducing investor-friendly initiatives have contributed to improving our position in the World Bank’s Ease of Doing Business Index from 142 in 2014 to 63 in 2019.”

He said India and Saudi Arabia been working together within the G20 to reduce inequality and promote sustainable development. Saying stable oil prices are crucial for the growth of the global economy, he praised the Kingdom’s role as an important and reliable source of India’s energy requirements.

“We welcome greater Saudi investments in our infrastructure projects, including the Smart Cities program. We also welcome Saudi interest in investing in the National Investment and Infrastructure Fund.”

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