Points to Remember:
- Saudi Arabia is planning to invest $100 billion in India in areas including infrastructure, agriculture and petrochemicals.
- Saudi Ambassador Saud bin Mohammed Al Sati said that the country is also seeking a long-term partnership with India in key sectors like oil, gas and mining.
- The two countries have a current bilateral trade of around $34 billion.
- Note: Saudi Arabia is a key pillar of India’s energy security, being a source of 17 per cent or more of crude oil and 32 per cent of LPG requirements of India.
About Saudi Arabia:
- Saudi Arabia, officially the Kingdom of Saudi Arabia, is a country in Western Asia constituting the bulk of the Arabian Peninsula.
- Capital: Riyadh
- Currency: Saudi riyal
- King: Salman bin Abdulaziz Al Saud
Important Possible questions based on above News:
- Which country is planning to invest $100 billion in India in areas including infrastructure, agriculture and petrochemicals? Saudi Arabia
- What is the currency of Saudi Arabia? Riyal