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4 Key Takeaways From PM Modi's Saudi Visit
It is clear that India and Saudi Arabia are trying to turn the page on issues that divide them. And what better way to do this than to increase trade and investment? The meetings are done, dozens of pacts have been signed. Here's a look at the key takeaways from the Prime Minister's visit to Riyadh. 1. Oil Sector Starting with the oil sector. Now, most of us might remember the attack on Saudi Aramco's crude oil facilities last month. they plunged the world's oil industry into uncertainty. The markets are still in turmoil. Also to blame the sanctions on Iran and Venezuela. There's the talk of a collective response to this crisis and this is critical for India which imports more than 80 percent of its oil. So India must safeguard its interests. The question is how? By deepening economic linkages with Saudi Arabia especially in the oil sector After all Saudi Arabia is India's second-biggest supplier. Iraq remains the top source. India imports around 18 ...
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