Saudi Arabia’s Crown Prince Mohammed bin Salman met the Indian Prime Minister Narendra Modi on the side-lines of the G20 summit starting Friday in Buenos Aires, Argentina. The Crown Prince has offered to work up Saudi investment in India’s technology, energy and agriculture sectors.
Indian Prime Minister Narendra Modi visited the Saudi Crown Prince Mohammed bin Salman in Buenos Aires, Argentina. The two leaders are in the country for the Group Twenty or the G20 summit on Friday. Reportedly, the Prince has asserted Saudi Arabia’s willingness to initiate investments and oil supply to India.
The two leaders discussed the need to stabilise energy prices in India and the contribution a top crude oil supplier like Saudi Arabia can make for the same. As the third biggest importer of oil, India is in dire need to combat mounting prices and hence is likely to benefit greatly from Saudi investment. India’s Foreign Secretary Vijay Gokhale, who will also be attending the G20 summit said, “The crown prince also referred to future projects for investments, in sectors such as tech, energy and farms”. Prime Minister Modi and the Crown Prince also deliberated upon the possibility of solar energy investment by Saudi Arabia. The Saudi Arabian leader further apprised the Prime Minister of Saudi’s plans to invest in India’s National Investment and Infrastructure Fund to help fast-track infrastructural development. The likelihood of replacing agricultural imports from other countries with agricultural imports from India was another matter of discussion at the meeting.
The G20 summit is the first international event to be attended by the Saudi Crown Prince post the Jamal Khashoggi murder case. For the Indian Prime Minister, the meeting marked the first of the many bilateral meetings scheduled with other world leaders, including US President Donald Trump. Soon after his arrival, Prime Minister Modi attended the ‘Yoga for Peace’ event in the Argentine capital, Buenos Aires on Thursday.