Saudi Arabia explores ways of achieving USD 100 bln investment in India

NEW DELHI, India and Saudi Arabia on Monday explored ways of achieving USD 100 billion investment in India while discussing bilateral issues of mutual concern, the Ministry of External Affairs said.

Saudi Minister of State for Foreign Affairs Adel Al Jubeir met Indian Prime Minster Narendra Modi and External Affairs Minister Sushma Swaraj during an official state visit today, which came as a follow up to the recent visit of Crown Prince of Saudi Arabia Mohammad bin Salman, the Ministry said in a statement.

Al Jubeir briefed Modi on the follow up of the outcomes of Saudi Crown Prince’s historical visit to India in February, it said.

“Both countries have taken significant steps including to boost trade and investment and to achieve USD 100 billion investment from Saudi Arabia into India, which was announced during the visit of the Crown Prince,” the ministry said.

Modi thanked the Saudi leadership “for expressing full solidarity with India in the fight against terrorism in all its forms and manifestations”, the statement said.

“It was agreed that Saudi Arabia and India should work together for irreversible, verifiable and credible steps against all terrorists without any discrimination,” it added.

In reference to a recent suicide attack in Indian-administered Kashmir, the ministry said that Swaraj “reiterated that an immediate irreversible and verifiable action to dismantle terror infrastructure is essential to fight the menace of terror.” Both the sides also agreed to launch “the Strategic Partnership Council” at the earliest.

Following the recent terror attack on an Indian Central Reserve Police Force convoy in Kashmir killing at least 40 troopers, New Delhi has sought support of global community and especially Arab Muslim countries to isolate Pakistan diplomatically.

Jaish-e-Muhammad, a Pakistan-based militant organisation had claimed the responsibility of the suicide attack leading to heightened tension in India Pakistan relations.

Source: Kuwait News Agency