India, Saudi Arabia discuss ways to increase investments

Thursday, 28 February 2008, 08:00 Hrs
Printer Print Email Email
New Delhi: India and Saudi Arabia Thursday held talks on strengthening bilateral ties, including ways to increase Saudi investments in Indian infrastructure, petrochemicals and energy.

Saudi Foreign Minister Saud Al-Faisal, on a two-day visit to India, met Prime Minister Manmohan Singh Thursday evening and held talks with his Indian counterpart Pranab Mukherjee.

External affairs ministry spokesperson Navtej Sarna said the talks between the two foreign ministers examined ways and means to further strengthen India and Saudi Arabia cooperation in several areas.

"They reiterated the need to have a faster implementation of the Delhi Declaration. In particular, they felt that consultations between the two Foreign Offices should be conducted on a regular basis," he said.

A major area of focus was invigoration of trade and investment relations, and Sarna said there were talks on how to increase mutual investment and set up a facility that promotes such investments.

"They also discussed possibilities of increased investment by Saudi Arabia in India in the fields of infrastructure, chemicals, petrochemicals and energy," he said.

Besides discussing regional and international issues, the Saudi foreign minister highlighted recent developments in West Asia and India briefed him about events in the subcontinent.

The Saudi foreign minister invited Mukherjee to Saudi Arabia and the invitation was accepted.
Source: IANS
SPOTLIGHT
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..