Crown Prince Salman, deputy premier and minister of defense, will arrive in New Delhi Wednesday on a three-day landmark visit, which is expected to witness the signing of a series of agreements, including one for strengthening defense and military cooperation.

The crown prince and his entourage will be given a red-carpet welcome in the Indian capital by high-ranking Indian officials, including Vice President Hamid Ansari.

Crown Prince Salman will hold official talks with Indian Prime Minister Manmohan Singh and President Pranab Mukherjee on Thursday. The crown prince arrives in New Delhi after wrapping up his week-long visit to Japan.

“The visit is set to give a major boost to bilateral ties, as the two countries are expected to sign agreements and hold talks to boost cooperation in areas such as defense, trade, investment and energy,” said Mridul Kumar, joint secretary (Gulf) to the Indian Ministry of External Affairs.

Indian Defense Minister A. K. Anthony and Foreign Minister Salman Khurshid will also call on Crown Prince Salman on Thursday.

“Crown Prince Salman will meet President Mukherjee and Prime Minister Singh and hold bilateral talks with Ansari,” said an Indian External Affairs Ministry statement.

The highlight of the visit, however, will be the endorsement of a defense pact. The two countries are expected to sign a Memorandum of Understanding (MoU) on defense, said Kumar, joint secretary (Gulf) to the Indian Ministry of External Affairs.

He said “India finds Saudi Arabia a very willing partner in terms of security and defense dialogue. Our cooperation has increased enormously. There has been regular dialogue between India and Saudi Arabia on these matters.”

The agreement, which New Delhi and Riyadh are now set to sign, will explore possibilities for cooperation between the defense industries of the two countries. It also envisages exchange of defense-related information, and training and cooperation in areas varying from hydrocarbons and security to its logistics.

Sibi George, charge d’affaires at the Indian Embassy, said that the royal delegation includes a huge contingent of businessmen. There will meetings among the businessmen of the two countries, besides a major joint meeting being organized in New Delhi on the sidelines of the visit, he said.

The two sides will explore possibilities of investing in tourism, oil and gas exploration and infrastructure fields. Saudi Arabia views India as an investment hub for its businesses in Asia. “Saudi investors are showing a keen interest in the emerging Indian market which, in their assessment, provides opportunity of huge investment in multilateral sectors,” he observed.

This three-day day visit of Crown Prince Salman to India is the first highest level visit after the 2006 landmark trip by Custodian of the Two Holy Mosques King Abdullah.

This will be Crown Prince Salman’s second visit to India. He had traveled to India in April 2010 when he was the governor of the Riyadh province. An official visit by Prime Minister Manmohan Singh to Riyadh in 2010 and the Riyadh Declaration signed on Feb. 28, 2010 elevated bilateral engagement to strategic partnership status covering security, economic, defense and political areas.

The two countries are also eager to work together in curbing money laundering and drug trafficking. The two countries have forged closer ties on the commercial front.

“Indo-Saudi bilateral trade exceeded $43.19 billion in 2012 and 2013,” said George. In recent years, there has been significant progress in bilateral cooperation in key areas of mutual interest, including energy security, trade and infrastructure development projects, said the statement.

Saudi Arabia is home to 2.8 million Indian workers, who represent the largest expat community in the country.

In a report published on the eve of Prince Salman’s visit, The Hindu newspaper said, quoting government sources, that Indian companies and workers would play a significant role in speeding up the execution of the Haramain Railway linking the two holy cities of Makkah and Madinah.

The Indian work force will be roped in for the Haramain project, the Indian English daily reported, adding that Indian companies would supply rails for the tracks. Indian companies are also eying Saudi railway expansion projects worth $100 billion in the next 30 years.

Saudi Arabia is the largest supplier of oil to India, as one fifth of its oil imports came from the Kingdom last year. “The large presence of Indian workers and companies in the Kingdom reflect the strong relations between the two countries,” said Abdul Rahman Al-Wabil, a Saudi businessman. “Saudi Arabia offers good investment opportunity for Indian companies.”