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India-Saudi Arabia Strategic Partnership Council

Published on September 21, 2022
Current Context: On his two-day visit to Saudi Arabia, the Minister of Commerce and Industry, Piyush Goyal, attended the Ministerial meeting of the India-Saudi Arabia Strategic Partnership Council.
India-Saudi Arabia Strategic Partnership Council
  • The Ministerial Meeting was co-chaired by the Minister Of Commerce and Industry, Piyush Goyal, and Saudi Minister for Energy Prince Abdulaziz bin Salman Al-Saud.
  • The following outcomes were realized during the Meeting:
  1. Making efficient efforts to realize investments worth USD 100 Billion which was announced by Mohammad Bin Salman, during his visit to India in February 2019.
  2. Collaboration in the digital Financial Technology (FinTech) sector through operationalization of UPI and Rupay Card in Saudi Arabia.
  3. Affirmation of cooperation in joint projects including the LNG infrastructure investment, West coast refinery, and development of strategic petroleum storage facilities in India.
  4. Endorsement of the 41 areas of cooperation under 4 broad domains of Agriculture & Food Security; Technology & IT; Energy; and Industry & Infrastructure.
  5. The possibility of institutionalizing a Rupee-Riyal trade was also discussed.
  • The Strategic Partnership Council was constituted for the first time in October 2019 during the visit of Prime Minister Narendra Modi to Saudi Arabia.
  • Saudi Arabia is situated on the Arabian Peninsula in Western Asia. Its capital is Riyadh and the Head of the State is Mohammad Bin Salman.

Question:

Q.1 The Ministerial meeting of the India-Saudi Arabia Strategic Partnership Council was held in?
a. New Delhi
b. Riyadh
c. Mecca
d. Mumbai
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