Saudi Prince Mohammed bin Salman discusses $100 billion investment in India
Last updated on: 23 February,2019 03:52 pm
He said Saudi Arabia has already invested $44 billion in India since the PM's visit in 2016.
(Web Desk) - Saudi crown prince Mohammed bin Salman said he saw investment opportunities worth $100 billion in various sectors in India.
In his talk to the media along with PM Modi in New Delhi on Wednesday, Salman said Saudi Arabia has already invested $44 billion in India since the PM’s visit in 2016.
Without naming Iran, he reiterated the kingdom’s commitment to meeting India’s growing needs for crude oil and petroleum products and substitute for any shortages that may arise as a result of disruptions from other sources.
“We understand that there are opportunities for more than $100 billion investment in India... We want to strengthen investment and economic ties... We want to increase cooperation with India as it will give a new direction to our relationship,” the crown prince said.
Economic relations secretary in the MEA, TS Tirumurti, told reporters after the meeting that there is a commitment by Saudi Arabia to invest $100 billion in sectors like energy, petrochemicals and manufacturing.
When asked if Saudi Arabia offered to mediate between India and Pakistan, the ministry official said that at this point, no mediation has been offered.