Saudi Arabia to ramp up investments in India
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.