Saudi Crown Prince expects investments in India to reach $100 bln

Published: Updated:

Saudi Arabia and India have signed five Memorandums of Understandings (MoUs) in the fields of housing, tourism, broadcasting, investment, and framework agenda, during the state visit of Saudi Crown Prince Mohammed bin Salman to India.

The Saudi Crown Prince also said that he expects investment opportunities in India to exceed $100 billion and that the Kingdom is ready for political and intelligence cooperation with New Delhi.

Here’s a simplified list of the MoUs that were signed:

1- Saudi investment in the Indian National Investment and Infrastructure Fund.

2- Cooperation in the field of tourism, where trips between the two countries will be promoted.

3- Saudi investment in the field of housing in India.

4- Program that enhances bilateral investment relations.

5- Cooperation between the two largest broadcasting networks in the two countries on exchanging content.

The MoUs were signed by different Saudi officials who were part of the Crown Prince’s delegation, including the Saudi Minister of Energy Khalid al-Falih, Saudi Minister of State for Foreign Affairs Adel al-Jubeir, Saudi Minister of Commerce and Investment Majid al-Qasabi, and the Saudi Minister of Media Turki Shabanah.

Saudi Crown Prince Mohammed bin Salman and India's Prime Minister Narendra Modi held a press conference in New Delhi on Wednesday following the signing of these agreements.