India is an important trading partner of Saudi Arabia and the bilateral ties will grow further after the signing of the Strategic Partnership Council Agreement to coordinate on important issues, a senior minister of the oil-rich Gulf Kingdom said today.
Noting that Saudi Arabia is a major source of energy supply to India, Minister for Commerce and Investment Majid bin Abdullah Al Qasabi said that the two countries could do more in several sectors.
Al Qasabi said that India could be a great platform for East Asia, Central Asia and for Saudi Arabia. India, the world’s third-largest oil consumer, imports 83 per cent of its oil needs.
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 imported 207.3 million tonnes of oil. India also buys some 200,000 tonnes of LPG every month from Saudi Arabia.