Saudi Arabia has supported granting observer status to India in the Organisation of Islamic Cooperation (OIC) and has expanded its collaboration with India to fight Islamic terrorism in the Middle East.
Since the 1990s, India's economic liberalisation has helped bolster trade with Saudi Arabia, which annually supplies to India nearly 175 million barrels (25 million metric tonnes) of crude oil, or a quarter of its needs.
Saudi Arabia is one of the largest suppliers of oil to India, who is one of the top seven trading partners and the fifth biggest investor in Saudi Arabia.
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), or Indo-Saudi relations, refers to the bilateral relationship between the Republic of India and the Kingdom of Saudi Arabia.
Relations between the two nations are generally strong and close, especially in commercial interests.
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These licenses are for projects in different sectors such as management and consultancy services, construction projects, telecommunications, information technology, pharmaceuticals, etc.