Saudi Arabia to invest $ 100 billion in India

Saudi Arabia on Wednesday announced that it would invest $ 100 billion in India in different sectors as the two countries signed five agreements in areas like agriculture, tourism, housing and information and broadcasting.
“Big announcement – Saudi Arabia to invest $100 bn in India – a huge vote of confidence in the Indian economy. PM @narendramodi welcomed announcement by #SaudiCrownPrince to invest in areas like energy, refining, petro-chemicals, infrastructure, agriculture, manufacturing, etc,” External Affairs Ministry spokesperson Raveesh Kumar tweeted after talks between the two sides.

Big announcement – Saudi Arabia to invest $100 bn in India – a huge vote of confidence in the Indian economy. PM @narendramodi welcomed announcement by #SaudiCrownPrince to invest in areas like energy, refining, petro-chemicals, infrastructure, agriculture, manufacturing, etc. pic.twitter.com/7DFRaou0Br
— Raveesh Kumar (@MEAIndia) February 20, 2019

The announcement about Saudi investment in India by visiting Saudi Crown Prince Mohammed Bin Salman Al-Saud came two days after he signed investment deals to the tune of $ 20 billion with Pakistan during his visit to Islamabad.
Speaking at a media interaction with Prime Minister Narendra Modi after talks between them, the Saudi leader said the two countries wanted to make fresh investment beneficial for both of them. “We want to diversify in other areas such as petro-chemicals and storage,” he added.
The Saudi Crown Prince said his country had taken a leaf out of India’s book and invested in the IT sector after Modi’s visit to the kingdom in 2016. “We know India is strong in the IT sector and we have invested a lot in Saudi Arabia in the IT sector and have benefitted from it,” he added.

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