<p class="title">Saudi Arabia announced its plan to invest $ 100 billion in India, as Prime Minister Narendra Modi hosted the Crown Prince of the kingdom, Mohammad bin Salman, in New Delhi on Wednesday.</p>.<p class="bodytext">A meeting between Modi and Mohammad bin Salman, a.k.a MbS, at Hyderabad House in New Delhi was followed by signing of five pacts.</p>.<p class="bodytext">“Prime Minister welcomed the announcement of HRH the Crown Prince of Saudi Arabia to invest $ 100 billion in India,” T S Tirumurti, Secretary (Economic Relations) at the Ministry of External Affairs, tweeted after the meeting between the two leaders. New Delhi highlighted the Saudi Arabia's announcement as a “huge vote of confidence” on economy of India.</p>.<p class="bodytext">“This is a clear reflection of the confidence of Saudi Arabia in the vibrancy of the Indian economy and the tremendous opportunities available for investment,” Tirumurti posted on Twitter.</p>.<p class="bodytext">Saudi Arabian investment in India will spread over areas like agriculture, infrastructure, manufacturing and energy, including in crude oil refineries and petrochemical industries.</p>.<p class="bodytext">MbS commenced his tour to Asia with a visit to Pakistan on Sunday and Monday. He pledged an investment of $ 20 billion by Saudi Arabia in Pakistan, which has been desperately looking for support from the kingdom to boost its fragile economy.</p>.<p class="bodytext">After Modi and MbS held the bilateral dialogue at Hyderabad House, External Affairs Minister Sushma Swaraj and Saudi Arabian Minister of Energy, Industry and Mineral Resources, Khalid Al Falih, signed a Memorandum of Understanding (MoU), which would pave the way for the government of the kingdom to invest in the National Investment and Infrastructure Fund of India.</p>.<p class="bodytext">New Delhi's envoy to Riyadh, Ahmad Javed, and Saudi Arabia's Commerce and Investment minister Majid bin Abdullah Al-Qasabi, also signed a “Framework Cooperation Program” between Invest India and the kingdom's General Investment Authority on enhancing bilateral investment relations.</p>.<p class="bodytext">They also signed an MoU between the Government of India and the Government of Saudi Arabia for Cooperation in the field of housing.</p>.<p class="bodytext">Javed and Media Minister of Saudi Arabia Turki Abdullah Al-Shabanah signed an MoU for cooperation on broadcasting between Prasar Bharati and Saudi Broadcasting Corporation for Exchange of audio-visual programme.</p>.<p class="bodytext">An MoU for cooperation in the field of tourism between the Ministry of Tourism of India and the Saudi Commission for Tourism and National Heritage was also inked.</p>
<p class="title">Saudi Arabia announced its plan to invest $ 100 billion in India, as Prime Minister Narendra Modi hosted the Crown Prince of the kingdom, Mohammad bin Salman, in New Delhi on Wednesday.</p>.<p class="bodytext">A meeting between Modi and Mohammad bin Salman, a.k.a MbS, at Hyderabad House in New Delhi was followed by signing of five pacts.</p>.<p class="bodytext">“Prime Minister welcomed the announcement of HRH the Crown Prince of Saudi Arabia to invest $ 100 billion in India,” T S Tirumurti, Secretary (Economic Relations) at the Ministry of External Affairs, tweeted after the meeting between the two leaders. New Delhi highlighted the Saudi Arabia's announcement as a “huge vote of confidence” on economy of India.</p>.<p class="bodytext">“This is a clear reflection of the confidence of Saudi Arabia in the vibrancy of the Indian economy and the tremendous opportunities available for investment,” Tirumurti posted on Twitter.</p>.<p class="bodytext">Saudi Arabian investment in India will spread over areas like agriculture, infrastructure, manufacturing and energy, including in crude oil refineries and petrochemical industries.</p>.<p class="bodytext">MbS commenced his tour to Asia with a visit to Pakistan on Sunday and Monday. He pledged an investment of $ 20 billion by Saudi Arabia in Pakistan, which has been desperately looking for support from the kingdom to boost its fragile economy.</p>.<p class="bodytext">After Modi and MbS held the bilateral dialogue at Hyderabad House, External Affairs Minister Sushma Swaraj and Saudi Arabian Minister of Energy, Industry and Mineral Resources, Khalid Al Falih, signed a Memorandum of Understanding (MoU), which would pave the way for the government of the kingdom to invest in the National Investment and Infrastructure Fund of India.</p>.<p class="bodytext">New Delhi's envoy to Riyadh, Ahmad Javed, and Saudi Arabia's Commerce and Investment minister Majid bin Abdullah Al-Qasabi, also signed a “Framework Cooperation Program” between Invest India and the kingdom's General Investment Authority on enhancing bilateral investment relations.</p>.<p class="bodytext">They also signed an MoU between the Government of India and the Government of Saudi Arabia for Cooperation in the field of housing.</p>.<p class="bodytext">Javed and Media Minister of Saudi Arabia Turki Abdullah Al-Shabanah signed an MoU for cooperation on broadcasting between Prasar Bharati and Saudi Broadcasting Corporation for Exchange of audio-visual programme.</p>.<p class="bodytext">An MoU for cooperation in the field of tourism between the Ministry of Tourism of India and the Saudi Commission for Tourism and National Heritage was also inked.</p>
