Oil-wealthy Saudi Arabia sees a funding opportunity of USD one hundred billion in India in various sectors, stated journeying Crown Prince Mohammed Bin Salman on Wednesday right here.
Addressing the media alongside Prime Minister Narendra Modi, the crown prince said Saudi Arabia has already invested USD 44 billion in India for the reason that goes to Modi in 2016 to the Gulf kingdom.
He also lauded India’s energy within the facts era (IT) and stated Saudi Arabia was investing a lot within the sector.
“We take into account that there are opportunities for greater than USD a hundred billion investment in India…We want to reinforce funding and monetary ties to make certain useful returns for each nation,” the crown prince stated.
He informed that Saudi Arabia has invested in India in petrochemicals and diversifying into different sectors.
“We want to boom cooperation with India as it will give a brand new route to our relationship,” he stated.
Later, T S Tirumurti, Secretary (ER) in the Ministry of External Affairs, informed newshounds that there’s a commitment through Saudi Arabia to make investments USD one hundred billion in sectors like energy, petrochemicals, and production.
When requested while investments would be made, the Secretary stated there was no timeline.
The crown prince arrived here on a much less than 30-hour go to Tuesday night, an afternoon after concluding his excessive-profile excursion of Pakistan. He stated talk was the best way to clear up “notable problems” between India and Pakistan.
In a unique gesture, Modi acquired Salman at the airport right here, signifying the importance India attaches to the visit by using the chief of the Gulf nation.