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Saudi Arabia To Invest $750 Million In Indian Infrastructure & Other Sectors

Many statements and claims have been made in the recent years that the Indian Economy is beginning to become insulated from the global crisis and that scams have precluded investors and foreign direct investments (FDI) to show interest in the country. Proving all these statements wrong, Saudi Arabia urged to invest in India’s infrastructure sector. A proposed investment fund of $750 million is to be jointly ventured by Saudi Arabia.

India, with its rapidly growing economy has immense requirement of crude oil and petro chemicals; and trillion dollars of investment in the coming years to expand and amend its existing infrastructure and sustain its development momentum. This trade is bound to boost the economic engagements between the two countries.

The trade between India and Saudi Arabia has increased five times in the past 10 years. It was recorded as $25.61 billion in 2010-11 where India’s exports were worth 5.22 billion and imports were worth $20.38 billion. Though the trade is heavily in favour of Saudi Arabia, a lot of hopes were raised that this trade will be able to assist India in the years to come.

 


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