based economies based on advances in the area of information technology, space science and other frontier technologies. They welcomed the agreements signed between the two sides in the field of Research and Education, Information Technology and Services, Science and Technology, and Peaceful Uses of Outer Space. Both leaders emphasized the importance of developing a broad-based economic partnership that reflects the ongoing transformation of their economies, and the changes such transformation are bringing about in the global economic order, including continuous coordination within the framework of the G-20 process. They welcomed the outcome of the 8th session of the Joint Commission for Economic, Trade, Scientific, Technical and Cultural Cooperation held in Riyadh in October, 2009. The two leaders stressed on continuing to work towards strengthening their strategic partnership by meeting the two countries' vast requirements relating to infrastructure, energy and development, by augmenting the flow of their investments into each other's countries, and enhancing the bilateral trade in accordance with the potential and size of their economies. In this regard, the two leaders invited the private sector in the two countries and Saudi-India Business Council to increase their efforts to take advantage of the investment opportunities provided by the two countries. The two leaders further emphasized the importance of strengthening the strategic energy partnership based on complimentarity and interdependence, as outlined in the Delhi Declaration, including meeting India's increasing requirement of crude oil supplies, and identifying and implementing specific projects for cooperation including in the areas of new and renewable energy. India invited Saudi Arabia to participate in the Crude storage facilities in India. They directed the Joint Working Group on Energy to continue adopting all appropriate means to achieve the same. The Two leaders agreed on the role and importance of the youth in consolidating and strengthening the relations between their peoples, and directed the concerned authorities to prepare necessary programmes for activating this role in the framework of Memorandum of Cooperation in the educational field signed between the two countries in 2006, and also providing all necessary facilities to their students studying in both countries. The two leaders mandated the Saudi-India Joint Commission to continue follow up of the implementation of this Declaration to build this strategic partnership. The Prime Minister of India expressed his gratitude and appreciation for the excellent efforts made and services provided by the Saudi authorities to the Hajj and Umrah pilgrims from India. --More
