Saudi Arabia sees USD 100 bn investment opportunity in India: Crown Prince
New Delhi: Oil-rich Saudi Arabia sees an investment opportunity of USD 100 billion in India in various sectors, said visiting Crown Prince Mohammed Bin Salman Wednesday here.
Addressing the media along with Prime Minister Narendra Modi, the crown prince said Saudi Arabia has already invested USD 44 billion in India since the visit of Modi in 2016 to the Gulf nation.
He also lauded India's strength in the information technology (IT) and said Saudi Arabia too was investing a lot in the sector.
"We understand that there are opportunities for more than USD 100 billion investment in India...We want to strengthen investment and economic ties to ensure useful returns for both countries," the crown prince said.
He informed that Saudi Arabia has invested in India in petrochemicals and diversifying into other sectors.
"We want to increase cooperation with India as it will give a new direction to our relationship," he said.
Later T S Tirumurti, Secretary (ER) in Ministry of External Affairs, told reporters that there is a commitment by Saudi Arabia to invest USD 100 billion in sectors like energy, petrochemicals and manufacturing.
When asked by when investments would be made, the Secretary said there was no timeline.
The crown prince arrived here on a less than 30-hour visit Tuesday night, a day after concluding his high-profile tour of Pakistan where he said dialogue was the only way to resolve "outstanding issues" between India and Pakistan.
In a special gesture, Modi received Salman at the airport here, signifying the importance India attaches to the visit by the leader of the Gulf nation.
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Two held at Bengaluru airport with hydroponic ganja worth Rs 5.79 cr
Bengaluru (PTI): Two people were arrested at the Kempegowda International Airport here for attempting to smuggle hydroponic ganja valued at Rs 5.79 crore, upon their arrival from Bangkok on Wednesday, officials said
They seized 16.54 kg of hydroponic ganja, which was concealed in the checked-in baggage, the Bengaluru Customs said in a post on 'X'.
Both the accused were arrested under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, it said.
Meanwhile, the Customs officials at the Bengaluru Airport also disposed of 287.5 kg of Ganja (Hydroponic Weed) and 1.17 kg of Cocaine seized under the NDPS Act, 1985, in accordance with CBIC (Central Board of Indirect Taxes & Customs) Disposal Manual on March 17, it said in another post.
