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Saudi Crown Prince looking $100bn investment opportunity in India

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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.

“We want to diversify in other areas such as petrochemicals and storage,” he said.

“We want to make the relations between India and Saudi Arabia beneficial for both countries,” he said.

“These investments will help benefit the Indians in Saudi Arabia and the Saudi people who are working in India,” he said.

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 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 said.