PM Modi likely to visit Saudi Arabia on October 29 for investment summit

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Modi will attend the third edition of the Future Investment Initiative (FII), an annual investment forum being held on October 29-31.

Prime Minister Narendra Modi is likely to visit Saudi Arabia on a day-long visit on October 29 to participate in an annual investment forum to be held there, official sources said on Tuesday. Modi’s visit comes months after Saudi crown prince Mohammed bin Salman paid a visit to India in February.

Modi will attend the third edition of the Future Investment Initiative (FII), an annual investment forum being held on October 29-31.

Saudi Arabia had said last month that it is looking at investing USD 100 billion in India in areas of petrochemicals, infrastructure and mining among others, considering the country’s growth potential.

Saudi Ambassador Dr Saud bin Mohammed Al Sati had said India is an an attractive investment destination for his country, the world’s biggest oil exporter, and it is eyeing long-term partnerships with New Delhi in key sectors such oil, gas and mining. Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.