Saudi Arabia to invest $100 billion across different sectors in India

Saudi Arabia is looking at investing $100 billion in India in areas of petrochemicals, infrastructure, and mining, among others, The Times of India reported on Sunday, citing Saudi Ambassador to India Dr Saud bin Mohammed Al Sati.

"Saudi Arabia is looking at making investments in India potentially worth $100 billion in the areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining,” Al Sati told PTI in an interview.

The envoy said Saudi Aramco’s proposed partnership with India’s Reliance Industries reflect the strategic nature of the growing energy ties between both countries, The Times of India reported.

Al Sati said the Saudi Vision 2030 will also result in significant expansion of trade and business ties between the both countries.

The ambassador said both India and Saudi Arabia have identified more than 40 opportunities for joint collaboration and investments across diverse sectors in 2019.