Expat Health Insurance
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There are safety issues that are important to consider before moving to Saudi Arabia. There are also issues related to culture shock that you will need to be aware off. However, I don't think there is any major worry about you being Indian, as such. If you have any Indian friends already in Riyadh, I would ask you to speak to them about their personal experiences.
Safety in Saudi Arabia contains lots of useful information for you.
While I think your salary is enough to survive on as your accommodation and food have been covered, whether it is a good salaray will depend on your experience and how much you will be able to save given your own lifestyle. The salary will also depend on your line of work.
Good luck
Shantalie