Saudi Arabia to Invest Over $100 Billion in India

Mohammed bin Salman, the Crown Prince of Saudi Arabia, on Wednesday, February 20, during his first official visit to India coinciding with rising tensions between New Delhi and Islamabad, stated that he expects investment opportunities in India to exceed $100 billion within the next two years. India, seeking diplomatic support against Pakistan following a militant attack in the disputed Kashmir region, rolled out the red carpet for the Saudi Crown Prince, who was met by the Indian Prime Minister. The Saudi Crown Prince expressed readiness to cooperate with India 'against terrorism.' Earlier this week, he also visited Pakistan, where he was warmly welcomed by officials, and the two sides signed a memorandum of understanding worth $20 billion to support Pakistan's economy. In a joint press conference with Indian Prime Minister Narendra Modi, he noted that terrorism is a concern for both countries and that Riyadh is prepared to share security intelligence with India to combat it. He stated, 'We face similar challenges, foremost among them extremism and terrorism... and we affirm that we are ready for intelligence and political cooperation to coordinate our actions with India.' Saudi intelligence agencies successfully contained a series of al-Qaeda bombings a decade ago. However, the kingdom still faces sporadic attacks from Sunni ISIS militants and Shiite militants in its eastern provinces. Mohammed bin Salman also emphasized the commercial ties between Saudi Arabia and India, stating that Riyadh intends to invest over $100 billion in various sectors in India over the next two years. According to Reuters, these investment sectors include energy, agriculture, industrial production, and infrastructure. Additionally, Saudi oil giant Aramco has indicated it is negotiating with India's Reliance Industries for potential investment.