Several agreements are expected to be signed following the talks.
The Crown Prince will also call on President Ram Nath Kovind. Saudi Crown Prince arrived in New Delhi yesterday evening on a two-day visit to India. Prime Minister Modi received him Prince upon his arrival.
The Crown Prince, who is also the Vice President of the Council of Ministers and Minister of Defence of the Kingdom of Saudi Arabia, is accompanied by a high-level delegation, including Ministers, senior officials and leading Saudi businessmen.
The visit follows the highly successful visit of Prime Minister Modi to Saudi Arabia in April 2016, during which the two countries agreed to further elevate existing strategic partnership.
India and Saudi Arabia have historically enjoyed close and friendly relations anchored in mutually beneficial partnership and extensive people to people contacts.
In recent years, there has been significant progress in bilateral cooperation in key areas of mutual interest, including energy security, trade and investment, infrastructure, defence and security.
The bilateral trade was 27.48 billion dollars during the last financial year 2017-18, making Saudi Arabia, India’s 4th largest trading partner.
Saudi Arabia contributes significantly to India’s energy security needs by supplying about 20 per cent of crude requirements to India.
About 2.7 million strong and vibrant Indian community forms the largest expatriate group in Saudi Arabia.