Saudi Prince Mohammed bin Salman talks of $100b investment, shares India’s concerns on terrorism

Saudi Arabia has offered to share intelligence with India in fight against terrorism and called for dismantling terror infrastructure, even as both countries in oblique references called for sanctions against Jaish-e-Mohammad chief Masood Azhar at the UN and a conducive atmosphere to hold Indo-Pak talks.

Affirming that extremism and terrorism threaten all nations, India and Saudi Arabia rejected any attempt to link this universal phenomenon to a particular race, religion or culture. In a joint statement on Wednesday night, without naming Pakistan both the countries said nations should renounce use of terrorism as an instrument of state policy.

India and Saudi Arabia agreed to constitute a ‘comprehensive security dialogue’ at the level of national security advisors and to set up a joint working group on counter terrorism. Saudi crown prince Mohammed bin Salman, who is on an official visit to India, and Prime Minister Narendra Modi condemned the recent terrorist attack on Indian security forces in Pulwama in Jammu and Kashmir.


Saudi crown prince Mohammed bin Salman said he saw investment opportunities worth $100 billion in various sectors in India. Addressing the media along with PM Modi in New Delhi on Wednesday, Salman said Saudi Arabia has already invested $44 billion in India since the PM’s visit in 2016.

Without naming Iran he reiterated the kingdom’s commitment to meeting India’s growing needs for crude oil and petroleum products and substitute for any shortages that may arise as a result of disruptions from other sources.

“We understand that there are opportunities for more than $100 billion investment in India... We want to strengthen investment and economic ties... We want to increase cooperation with India as it will give a new direction to our relationship,” the crown prince said.

Economic relations secretary in the MEA, TS Tirumurti, told reporters after the meeting that there is a commitment by Saudi Arabia to invest $100 billion in sectors like energy, petrochemicals and manufacturing.

When asked if Saudi Arabia offered to mediate between India and Pakistan, the ministry official said that at this point, no mediation has been offered. Riyadh had made it clear to Islamabad that Indo-Pak issues must be addressed bilaterally.

With Modi by his side, Salman told reporters he “shared India’s concern on terrorism.” He did not make any public reference to Pakistan, but said his visit to India will improve centuries-old ties between the countries, which he said are “in our DNA.”