NEW DELHI: Saudi Arabia’s Crown Prince Mohammed bin Salman is expected to announce a $1 billion investment in India’s infrastructure and farming sectors during his first visit to the South Asian nation, experts said.
The crown prince was invited by Prime Minister Narendra Modi and is expected in New Delhi on Tuesday after visiting Pakistan. He will be accompanied by leading Saudi businessmen.
India is hoping the crown prince will announce an investment in its National Investment Infrastructure Fund (NIIF), a sovereign wealth fund that includes private companies and foreign investors. The fund focuses on upgrading India’s infrastructure, including railways and highways.
“We can expect a commitment of around $1 billion,” said Dr. Muddassir Quamar, an associate fellow at the Institute for Defense Studies and Analyzes, a New Delhi-based think tank.
India and Saudi Arabia have traditionally had friendly relations which Modi has sought to strengthen in recent years in a bid to improve ties with major Muslim nations. Observers say the aim is to deny an advantage to neighboring Pakistan, which has close links with Gulf countries.
The Kingdom is India’s top energy supplier and home to more than 3.5 million Indian expatriates. Much of bilateral trade between New Delhi and Riyadh has been based on energy, but both countries are now seeking to broaden ties.
Earlier this week, the Saudi Press Agency said the Kingdom was considering an investment deal in NIIF. Meanwhile, India announced that its Cabinet had approved an agreement between the two countries on investment in infrastructure.
However, Talmiz Ahmad, a former Indian ambassador to Saudi Arabia, said it is up to New Delhi to take advantage of the opportunity and make sure it gets the investment.
“There is plenty of room for investment in infrastructure, but the perception across the region is that India is not business friendly,” Ahmad said. “We need to improve things like acquisition of land, the tax regime and to speed up approvals.”
Apart from investments in energy, India also expects to see deals in agriculture.
India already exports cereals and agricultural products to the Kingdom, and can be an additional source of Saudi food security, Quamar said.
The crown prince’s visit comes at a time of heightened tensions between India and Pakistan after a car bomb killed 44 paramilitary personnel in the disputed Kashmir valley. Islamabad has denied India’s claim that it was involved in the attack.
Observers said that since Riyadh is a staunch Pakistan ally, the latest domestic dispute might limit the success of the visit.
However, Saudi Arabia has condemned the attack, the worst in decades of turmoil in the disputed region.
“We talk a lot about promoting joint ventures,” said Ahmad. “But none of them has any meaning if the region is mired in terrorism. The crown prince has to address the question of violence and terrorism.”
India looks to Saudi Arabia’s crown prince for historic $1bn pledge
India looks to Saudi Arabia’s crown prince for historic $1bn pledge
- Saudi crown prince to announce major backing for Indian investment fund to modernize railways and highways
- New Delhi visit comes at a time of heightened tension between India and neighboring Pakistan
Saudi Border Guard arrest 4 attempting to smuggle qat
JAZAN: The Kingdom’s Border Guard in Al-Ardah, Jazan, recently arrested four Yemeni nationals attempting to smuggle 80 kg of qat into the country, the Saudi Press Agency reported on Monday.
Mostly chewed by users, Qat is a mild stimulant and illegal across most of the Arab world.
The government has urged citizens and residents to report any information they have regarding drug smuggling or sales to the General Directorate of Narcotics Control. Reports can be made by calling 911 for Makkah, Riyadh and the Eastern Province, and 999 for other regions. Alternatively, information can be emailed to [email protected]. All reports are treated confidentially.
KSrelief distributes food in Pakistan, drills solar-powered wells in Nigeria
DUBAI: KSrelief, Saudi Arabia’s aid agency, recently distributed 370 food baskets in the flood-hit Shangla district of Khyber Pakhtunkhwa province, Pakistan, benefiting 2,590 individuals.
The aid was a part of the fourth phase of the Kingdom’s Food Security Support Project in Pakistan 2024.
Last week, KSrelief, in collaboration with a civil society organization, initiated a project to drill six solar-powered medium-depth water wells in Kwara State, Nigeria. The wells, each at a depth of about 80 meters and equipped with tanks holding 5,000 liters, are for the benefit of 30,000 individuals.
The beneficiaries lauded Saudi Arabia for addressing their vital water needs.
Saudi anti-corruption authority reveals details of recent cases
- Spokesman said legal procedures had been initiated against all perpetrators
RIYADH: A spokesman for Saudi Arabia’s Oversight and Anti-Corruption Authority, also known as Nazaha, revealed on Sunday details of a number of criminal cases it recently investigated and prosecuted.
Outlining 20 of the most prominent corruption cases, he said legal procedures had been initiated against all perpetrators.
In one case, two Central Bank employees were arrested for receiving sums of money from a resident, who was also arrested, in exchange for depositing more than SR7.3 million ($1.95 million), without verifying the source, into bank accounts belonging to commercial entities over a two-year period.
In another case, a security officer working at the General Department of Traffic was arrested for receiving SR387,000 from the owner of a public services office, who was also arrested, in exchange for illegally amending the essential data of a group of vehicles.
One of the cases also highlighted involved an employee working at a university hospital who was arrested for receiving SR100,000 from citizens in exchange for a promise to employ them at the university.
Nazaha said it continues to work to identify and prosecute anyone in the Kingdom involved in the embezzlement of public funds, guilty of abuse of power and position for personal gain, or otherwise harming the public interest.
It stressed that guilty parties will be pursued and held accountable, and that there is no statute of limitations on such crimes.
Saudi, Bahraini public prosecutor meet in Manama
- Al-Mujeb highlighted the unwavering support the Kingdom's public prosecution receives from its leadership
RIYADH: Saudi Public Prosecutor Sheikh Saud bin Abdullah Al-Mujeb met with his Bahraini counterpart Ali bin Fadl Al Buainain in Manama, Saudi Press Agency reported on Sunday.
Al-Buainain welcomed Al-Mujeb and his accompanying delegation and expressed his delight at the visit, which he said signified the ongoing exchange of visits between the judicial bodies of the two nations and the sustained collaboration in combating transnational crime.
During the meeting, Al-Mujeb emphasized the deep-rooted historical ties between the Bahrain and the Kingdom and their continued advancement across various sectors, particularly in parliamentary cooperation and the exchange of information to ensure regional security.
He highlighted the unwavering support the Kingdom's public prosecution receives from its leadership, which he said enhanced the efficiency of its judicial processes.
Conjoined Filipino twins arrive in Riyadh for surgery
- Parents convey appreciation to King Salman, Crown Prince Mohammed bin Salman
RIYADH: Conjoined Filipino twins arrived in Riyadh from Manila on Sunday following a Saudi evacuation plan coordinated by the Ministry of Health, the Saudi Press Agency reported.
Akhizah and Ayeesha Yusoph were born in Panabo City in the Davao del Norte province on the southern island of Mindanao in December 2022. Their bodies share one liver.
The two 16-month-old girls arrived at King Khalid International Airport and traveled to the King Abdullah Specialized Children’s Hospital to be assessed to determine the feasibility of separation surgery.
Abdullah Al-Rabeeah, supervisor general of the Saudi aid agency KSrelief, thanked the Kingdom’s leadership for their support of the flagship Saudi Conjoined Twins Program.
The program, which is spearheaded by Al-Rabeeah, has operated on more than 130 children from 25 countries since 1990. The children were born sharing internal organs with their twin.
Al-Rabeeah spoke of the program’s global significance which marks a milestone in the field of medicine, while aligning with the ambitious goals of Saudi Vision 2030 to elevate the Kingdom’s healthcare services.
The parents of Akhizah and Ayeesha conveyed their heartfelt appreciation to King Salman and Crown Prince Mohammed bin Salman for the warm welcome and generous hospitality extended to them following their arrival in the Kingdom.
