Next-Generation Economic Diplomacy: Aligning Saudi Vision 2030 with India's Make in India Initiative

Abstract

This article explores the evolving economic and strategic partnership between India and Saudi Arabia, framed by the alignment of Saudi Vision 2030 and India’s Make in India initiative. Historically based on energy trade and labour migration, the bilateral relationship is undergoing a profound transformation towards next-generation economic diplomacy. This study examines the evolution of next-generation economic diplomacy through the strategic alignment of Saudi Vision 2030 with India’s Make in India initiative, anchored in contemporary South–South Cooperation (SSC) theories. Moving beyond traditional paradigms, South-South Cooperation offers robust conceptual frameworks—Development Compact, Polylateral Development, decolonial solidarity, and networked diplomacy—that illuminate the depth of this bilateral partnership. Key collaborative platforms—including the India–Middle East–Europe Economic Corridor (IMEC) and the India–Saudi Arabia Strategic Partnership Council—are examined as facilitators of this multidimensional cooperation. The article highlights the complementarities of Saudi capital and infrastructure capabilities with India’s technological expertise and market potential, underscoring opportunities in fintech, cybersecurity, urban innovation, and defence production. It concludes that this dynamic alignment not only enhances bilateral interdependence but also positions both nations as influential players in shaping a resilient, multipolar global economic order. Furthermore, the partnership reflects an evolving model of strategic economic engagement in the Global South, where innovation, sustainability, and institutional cooperation drive long-term collaboration. By fostering connectivity, technology transfer, and investment flows, India and Saudi Arabia are redefining bilateral diplomacy and contributing to a more inclusive and diversified international economic architecture.