Bin Salman is currently on a State visit to India following end of the G20 Summit.
'The background for the Saudi-Pakistan agreement is the fact that the regional security order has collapsed due to the Israeli attack on Doha.' 'The Americans have largely abandoned their security guarantee for West Asia and the region has no choice but to look at alternatives.'
The leaders of the grouping who met under India's presidency in New Delhi adopted the Delhi Declaration in which they emphasised the freedom of religion or belief, freedom of expression and the right to peaceful assembly.
Saudi Arabian Crown Prince Mohammed bin Salman arrived in New Delhi on a three-day state visit during which he will hold a bilateral meeting and co-chair the first leaders' meeting of the Strategic Partnership Council with Prime Minister Narendra Modi.
India and Saudi Arabia on Monday called on states to reject the use of terrorism against other countries and prevent access to weapons, including missiles and drones, to commit acts of terror.
India and Saudi Arabia on Monday decided to expedite implementation of the $50 billion West Coast refinery project, and identified energy, defence, semiconductor and space as areas for intensified cooperation during talks between Prime Minister Narendra Modi and Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud.
China welcomes all initiatives that truly help developing countries build infrastructure and sincere efforts to promote connectivity and common development, the Chinese Foreign Ministry said.
MEA said the two leaders also called upon countries to renounce use of terrorism as a state policy.
Mukesh Ambani, who is in talks with Saudi Arabian oil giant Aramco to sell one-fifth of his oil-to-chemicals business in India for $ 15 billion, said the two countries have all factors to drive growth - technology, young demography, and leadership.
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In a tweet, Modi said India is 'delighted to welcome' the Crown Prince of Saudi Arabia.