Saudi Prince sees $ 100 billion investment opportunities in India

The Prime Minister, Shri Narendra Modi and the Crown Prince, Vice President of the Council of Ministers of Defence of the Kingdom of Saudi Arabia, Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud at the Joint Press Statements, at Hyderabad House, in New Delhi on February 20, 2019.

Saudi Arabian Crown Prince Mohammad bin Salman has said that his country sees an opportunity to invest as much as $100 billion in various sectors in India in the coming few years.

Addressing a joint press conference with Prime Minister Narendra Modi, the crown prince said his country had invested $44 billion since 2016 in India, when PM Modi had visited the country, and had benefitted from it.

“We believe that the (investment) opportunities in India are worth more than $100 billion. Together we want to make these investments beneficial for both India and Saudi Arabia,” he said.

He expressed hope to diversify in other areas such as petrochemicals and storage. He also said that these investments will help benefit the Indians in Saudi Arabia and the Saudi people who are working in India.

He said that Saudi Arabia had taken a leaf out of India’s book and had invested in the IT sector after PM Modi’s 2016 visit. “We want to make the relations between India and Saudi Arabia beneficial for both countries,” he added.

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