Skip to content
Search

Latest Stories

Saudi Sees ‘Useful Returns’ From Expected $100 Billion Investment In India

SAUDI ARABIA'S crown prince Mohammed bin Salman said today (20) that he saw investment opportunities of more than $100 billion in India over the next two years as he began his first official visit amid tensions between India and Pakistan.

India rolled out the red carpet for the crown prince as it seeks diplomatic support against Pakistan following a militant attack in Kashmir.


The crown prince was also given a lavish welcome this week in Pakistan where the two sides signed memoranda of understanding valued at about $20bn to help prop up Pakistan's economy.

In a joint press appearance after talks with Indian prime minister Narendra Modi, the crown prince said terrorism was a common concern and Saudi Arabia was ready to share intelligence with India to tackle it.

India blames Pakistan for not doing enough to roll up militant groups that operate from its soil including the one that claimed responsibility for the Kashmir car bombing last week.

Pakistan denies any involvement in cross-border terrorism and said it would retaliate against an Indian attack. 

"We face similar challenges, chief among them extremism and terrorism … and we reaffirm to India that we are ready to work in the intelligence and political arenas to coordinate our efforts…” the crown prince said.

Saudi Arabia’s formidable domestic security structure helped put down an al Qaeda bombing campaign over a decade ago. But the kingdom continues to face occasional attacks by Sunni Islamic State fighters and Shi’ite militants in its Eastern Province.

Riyadh also leads a coalition of Arab states fighting in support of Yemen’s internationally recognised government against the Iranian-aligned Houthi fighters, who regularly fire rockets across the kingdom’s southern border.

The crown prince also said he wanted to expand commercial relations with India.

"Today we expect the opportunities we are targeting in India in various fields to exceed $100bn in the coming two years… we want to work with you, prime minister, to ensure these investments are made and to ensure useful returns for both countries."

Giant petroleum and natural gas company Saudi Aramco said it was in talks with India's Reliance Industries Ltd for possible investments and was seeking other opportunities.

Both India and Pakistan had expected a scaling up of investments on the crown prince's tour of the region.

Modi has sought to use India's fast-growing economy to attract more investment from Saudi Arabia and other Islamic nations since he took office.

During the press briefing, Modi said he had agreed with the prince to strengthen cooperation on counter-terrorism and naval and cyber security.

The two countries signed agreements on investment in infrastructure, housing sector and tourism.  

(Reuters)

More For You

Primark-London-Getty

During his 15-year tenure, Marchant expanded Primark’s store network to more than 450 locations across 17 countries in Europe and the United States. (Photo: Reuters)

Primark chief Paul Marchant steps down after misconduct probe

PAUL MARCHANT, the head of fashion retailer Primark, has resigned with immediate effect after admitting to an "error of judgment" in his behaviour towards a woman in a social setting.

Associated British Foods (AB Foods), Primark's parent company, announced his resignation on Monday.

Keep ReadingShow less
Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

JAGUAR’S ambition to seduce younger, richer drivers was on full display in Paris with a presentation of its newest prototype, the Type 00, which promises all-electric luxury... at a steep price.

The low-slung, muscular-looking concept car presented to European reporters last Friday (21) prefigures a production model expected mid-2026 at a base cost of €150,000 (£123,472.8).

Keep ReadingShow less
Starmer-Trump-Getty

Trump has suggested the possibility of a 'great' trade deal that could help the UK mitigate the impact of tariffs he has pledged to introduce. (Photo: Getty Images)

Starmer, Trump talk trade deal progress in 'productive' discussion

KEIR STARMER and Donald Trump spoke on Sunday about ongoing UK-US trade negotiations, with Downing Street describing the talks as "productive."

Since leaving the European Union, the UK has been working to secure a trade agreement with the United States. Successive British governments have pursued a deal, but it has remained elusive.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

India-US trade talks end with no sign of tariff relief

INDIA and the United States have agreed to move forward on finalising a part of their bilateral trade deal this year, but there was no indication of any tariff relief for India.

Trade discussions took place in New Delhi ahead of the implementation of US president Donald Trump's new trade tariff regime, which includes import levies on India, set to take effect from 2 April.

Keep ReadingShow less
Tesco Clubcard Changes: Update Your App Before the Deadline

The digital Clubcard offers convenience and flexibility

Getty

Tesco Clubcard changes: Customers urged to update app before Monday deadline

Tesco has issued an urgent call for action to millions of its Clubcard users, advising them to update their Tesco Shopping & Clubcard app before Monday, 31 March 2025. The supermarket giant is rolling out an important update to improve data protection and online security, and failure to update the app by the deadline will leave customers unable to access their digital Clubcard benefits.

Update to ensure enhanced security

The upcoming changes are being implemented to enhance the security of customer data and improve overall protection. Tesco has highlighted the importance of this upgrade, as it seeks to safeguard customer information and keep their online shopping experiences secure.

Keep ReadingShow less