Saudi Arabia, India moving towards closer strategic ties: Modi

Agencies
October 29, 2019

Riyadh, Oct 29: India and Saudi Arabia are moving from a purely buyer-seller relationship towards a closer strategic partnership that will include the resource-rich Kingdom's investments in downstream oil and gas projects in the country, Prime Minister Narendra Modi has said.

Saudi Arabia is its second-biggest supplier after Iraq. It sold 40.33 million tonnes of crude oil to India in 2018-19 fiscal, when the country had imported 207.3 million tonnes of oil.

India imports around 18 per cent of its crude oil from the Kingdom, making it the second-largest source of crude oil for the country, Prime Minister Modi said in an interview published in the Arab News newspaper on Tuesday.

The prime minister arrived here on Monday night to attend a key financial conference and hold talks with the top Saudi leadership.

"From a purely buyer-seller relationship, we are now moving toward a closer strategic partnership that will include Saudi investments in downstream oil and gas projects," he said.

Modi said that stable oil prices are crucial for the growth of the global economy, and praised the Kingdom’s role as an important and reliable source of India's energy requirements.

"Saudi Aramco is participating in a major refinery and petrochemical project on India’s west coast. We are also looking forward to the participation of Aramco in India’s Strategic Petroleum Reserves," Modi said.

Saudi Aramco, the most profitable company in the world, controls the world's second-largest proven crude reserves at more than 270 billion barrels.

Saudi Arabia is still recovering from the September 14 drone and missile assault on the world's largest crude-processing facility operated by Saudi Arabia's Aramco that knocked out about 5.7 million barrels a day, about half of the country's output. Its state energy company, Saudi Aramco, has vowed not to reduce shipments to customers as it draws down strategic reserves.

India imports 83 per cent of its oil needs.

This is Prime Minister Modi's second visit to the Gulf Kingdom. During his first visit in 2016, Saudi King Salman bin Abdulaziz conferred Saudi's highest civilian award on him. The Crown Prince visited India in February 2019, giving a further fillip to the bilateral ties.

India's relations with Saudi Arabia have been on an upswing over the last few years. India's bilateral trade with Saudi Arabia was at USD 27.48 billion in 2017-18, making Saudi Arabia its fourth-largest trading partner.

Saudi Arabia last month said it was looking at investing USD 100 billion in India in areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining.

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News Network
April 11,2024

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Bengaluru, Apr 11: Congress leader Rahul Gandhi and the party's unit in Karnataka have highlighted the statement of Class 12 Board exam topper from the state, Vedant Navi, and claimed that "it was a matter of pride as their schemes were bringing effective social and economic changes".

The Congress on Thursday launched a social media campaign by releasing posters and short videos.

Rahul Gandhi in his social media post said, “Such 'Success Stories' make me believe and ensure that our 'Mahalakshmi' guarantee of putting Rs 1 lac every year in women's accounts will prove to be a revolutionary step to shaping the country's fate.”

“Congress's Gruha Lakshmi scheme going on in Karnataka under which more than 1 crore women get Rs 2,000 every month, using the same money a mother taught her son Vedant and he got second rank in the whole state in PUC exam,” Rahul Gandhi stated.

“Vedant's story is a living example of Indian women's penance and willpower to strengthen the house with pai-pai. Imagine, when women of poor families across the country will get Rs 1 lakh every year through the 'Mahalakshmi Yojana', how many Vedantas will change the future of the family with their talent? This historic plan of Congress will give the dreams of poor families a flight into reality,” Rahul Gandhi said.

The Congress in Karnataka said the schemes of the government were giving succour to the people. “It is a matter of pride that in a span of 10 months, our government’s schemes are bringing effective social and economic changes,” the party claimed.

“It is a testimony to the success of the Gruha Lakshmi scheme that the family of Vedant, who secured first rank in the Arts stream, was supported by the money provided by the Gruha Lakshmi scheme. Our schemes have brought changes in many people’s lives. The Congress party has built the lives of the people and thereby built the nation,” the Congress stated.

Vedant Navi had secured first rank in Arts Stream in Karnataka. He is the overall second-topper.

“My father is no more. My mother faced difficulties as the family was debt-ridden. In this crunch time, the money received through the Gruha Lakshmi scheme (Rs 2,000 every month given for women heads of family) helped my studies and hostel stay and other expenditures,” Vedant had stated.

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News Network
April 16,2024

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New Delhi:  Twenty-nine Maoists, including a senior rebel leader - Shankar Rao, who had a bounty of ₹ 25 lakh on his head - were killed by security forces during an encounter in Chhattisgarh's Kanker district on Tuesday afternoon. A huge quantity of weapons, including Ak-47 and INSAS rifles, were recovered. 

Three security personnel were injured in the gunfight, which took place in forests near the village of Binagunda after a joint team of District Reserve Guard and Border Security Force were attacked.

Two of the three injured are from the BSF. Their condition is stable but the third - from the DRG - is in critical care. All three received treatment at a local hospital and are to be shifted to a larger facility.

Sources said the fighting began at around 2 PM, when a joint DRG-BSF team was conducting an anti-Maoist operation. The DRG was set up in in 2008 to combat Maoist activities in the state, and the Border Security Force has been deployed extensively in the area to for counter-insurgency ops.

There was another encounter in the district last month, in which two people - a Maoist and a cop - were killed, and security forces recovered a gun, some explosives, and other incriminating materials.

Personnel from the DRG and Bastar Fighters, both units of the state police force, with the Border Security Force, were involved in that operation, officials told news agency PTI. The patrolling team was cordoning off a forested area when fired on indiscriminately, leading to the gun battle.

In November last year, while the state was voting in the first phase of an Assembly election, a gunfight broke out between security forces and Maoist rebels in the same district.

An Ak-47 rifle was recovered from the encounter site.

On the same day, while polling was taking place, Maoists fired at DRG personnel deployed near a polling station in Banda in Dantewada district.

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News Network
April 11,2024

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Six children were killed on Thursday morning after a private school bus carrying around 40 children lost control and overturned in Haryana's Mahendragarh district. The bus was on its way to school, which was functioning despite Eid-ul-Fitr holiday. 

Several students were left injured due to this accident. The incident took place near Unhani village in the Mahendranagar district.

Parents and locals are also asking why the school remained open on Eid, a public holiday.

Six children died and over 20 were injured when the school bus rammed a tree and overturned this morning. The driver was reportedly drunk, the police said.

The bus, whose fitness certificate had expired in 2018, belonged to GL Public School. A state road transport official has been suspended for failing to control vehicles running without proper valid documents.

State Education Minister Seema Trikha said an inquiry is being conducted to find out why the school was functioning on a holiday. She reiterated that the school should have been shut today and that a show-cause notice has been served.

"The school should not have been open today. A show-cause notice has been issued and apart from that, we have taken self-affidavits from the private schools. The schools will have to provide an affidavit of the transport vehicles stating that they function according to the transport rules," she said.

Asked who bears the responsibility for such a tragedy, the minister said the schools and the bus owners will be held accountable along with the driver.

"If (school bus) drivers are found to be drunk, schools will be held responsible. In such cases, FIRs will be filed against the driver, the school's principal, and the bus owner."

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