During the meeting, Modi expressed that India expects Saudi Arabia to ramp up investments in several sectors including technology, farm, and energy over the next few years
BUENOS AIRES: Prime Minister Narendra Modi reached Buenos Aires, the capital of Argentina for the 2018 G20 summit, and met Saudi Prince Mohammed bin Salman where he stressed upon stabilising energy prices, with specific emphasis on how Saudi Arabia can contribute to the same in India, Foreign Secretary Vijay Gokhale said on Friday.
The two leaders specifically focused on how Saudi Arabia can enhance its investments across a number of sectors in the next two to three years. They agreed upon setting up a mechanism at the leadership level which will go into the possibilities of concrete action in terms of investments, technology, manufacturing, energy, food security, and defence. The mechanism will show significant scaling up of Saudi investments in India within a span of the next two to three years.
Sources said Saudi Crown Prince also informed the Prime Minister that Saudi Arabia will be finalising an initial investment to the National Infrastructure Fund.
The theme of the G20 summit is Building Consensus for a Fair and Sustainable Development. On Tuesday, PM Modi said he would be discussing ways to meet the new and upcoming challenges of the coming decade with world leaders who will gather for the summit.
While addressing the ‘Yoga for Peace’ event in Buenos Aires on Thursday, Prime Minister Modi said, “In G20 summit many issues will be discussed such as global economy, sustainable development, climate change, and fugitive economic offenders. These are in the interest of the entire world and not just India and Argentina.”
Speaking on the cultural connection between India and Argentina, he mentioned how football legend Diego Maradona’s name is used in phrases in India.
(With agency inputs)
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