New Delhi - The unveiling of Saudi Arabia’s ambitious plan, christened Saudi Vision 2030 – to wean the Islamic Kingdom away from oil, needs to be seen in the right perspective. On the economic front, three things have forced Riyadh to take this bold step – the prolonged period of cheap oil, advances in shale oil and gas technology, and growing concerns about global warming. These factors have convinced the Saudi royal family that the days of crude are numbered. Hence, the massive effort to restructure the Saudi economy and boost non-oil sources of revenue.

King Mohammed VI and Saudi King
Rudroneel Ghosh is a Jr Assistant editor with The Times of India, India's largest English daily.