Saudi Ara­bia to ramp up in­vest­ments in In­dia

Arabian Business English - - THE BIG STORY -

SAUDI ARA­BIA IS RE­PORT­EDLY set to ramp up in­vest­ments in In­dia, ac­cord­ing to the coun­try’s Crown Prince Mo­hammed bin Sal­man who met In­dian Prime Minister Naren­dra Modi on the side­lines of the re­cent G20 sum­mit in Ar­gentina.

Re­ports sug­gest the

Saudi prince told Modi he would soon be fi­nal­is­ing an ini­tial in­vest­ment in In­dia’s Na­tional In­vest­ment and In­fra­struc­ture Fund, a wealth fund to help ac­cel­er­ate the build­ing of ports, high­ways and other projects in the rapidly grow­ing na­tion.

The two lead­ers also dis­cussed Saudi Ara­bia’s readi­ness to sup­ply In­dia with oil and petroleum prod­ucts, ac­cord­ing to var­i­ous me­dia re­ports.

“The crown prince also re­ferred to fu­ture projects for in­vest­ments, in sec­tors such as tech, en­ergy and farm,” In­dian For­eign Sec­re­tary Vi­jay Gokhale, was quoted as say­ing by Reuters.

The Saudi News Agency added that Saudi Ara­bia could also re­place its agri­cul­tural im­ports from other coun­tries with In­dian agri­cul­tural pro­duce.

The two men also Saudi Aramco’s in­vest­ment in re­finer­ies in In­dia and fu­ture plans to build an­other.

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