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Prime Minister Modi's diplomacy works as Saudi Arabia gives 'jolt’ to Pakistan

Monday - September 30, 2019 2:42 pm , Category : WTN SPECIAL
Saudi Arabia can invest 100 billion dollars in India
Saudi Arabia can invest 100 billion dollars in India

Saudi Arabia to invest millions of crores in India, doors to open for better employment opportunities

SEP 30 (WTN) - Pakistan has received a major jolt once again due to the diplomacy of Prime Minister Narendra Modi. Pakistan Prime Minister Imran Khan, who was looking forward to the support of Muslim countries on the basis of religion on the Kashmir issue, felt that Muslim countries like Saudi Arabia would support Pakistan on the Kashmir issue and they would oppose and boycott India at the political and business level. But Imran Khan's plans have failed, as Saudi Arabia has shown interest in investing 100 billion dollars in India despite Pakistan's efforts.

If Saudi Arabia does so, it would be a big jolt to Pakistan and its Prime Minister Imran Khan. This is why, because Pakistan has always been thinking that Saudi Arabia, being a Muslim country, will support Pakistan on every issue, but Prime Minister of India, Narendra Modi, based on his international relations has almost persuaded Saudi Arabia to invest in India, a country with immense possibilities of trade.

In fact, for your information, let us know that Saudi Arabia is looking at the possibility of investing $ 100 billion in fuel, refining, petrochemicals, infrastructure, agriculture, minerals and mining, given the immense potential of economic growth in India. Given the huge population market and talent workers of a country like India, Saudi Arabia seems to be a golden opportunity to invest in India. This is why Saudi Arabia is looking at long-term business partnership in India.

According to the information, Saudi Arabia's largest oil company Aramco's investment plans in India's oil supply sector, retail fuel sales, petrochemicals and lubricants markets form an important part of the company's global expansion strategy in these sectors. In fact, the Crown Prince of Saudi Arabia, Mohammed bin Salman, wants to significantly expand trade and business between Saudi Arabia and India in various areas under Vision-2030.

For your information, let us know that Saudi Arabia is trying to reduce its economic dependence on petroleum products under the Vision-2030. This is why, because Saudi Arabia knows that future shortages of crude oil and increased use of electric vehicles can have a significant impact on its oil-based economy. In such a situation, Saudi Arabia is focusing on investment in other sectors other than oil.

The trade relations between India and Saudi Arabia are very old. India relies heavily on Saudi Arabia for the supply of crude oil and LPG. For your information, let us tell that India imports 17 per cent of its crude oil requirement from Saudi Arabia, while India imports 32 per cent of its requirement of LPG from Saudi Arabia.

Saudi Arabia has identified more than 40 opportunities for joint participation and investment in India, given India's large market in the world's second largest population. By the way, there is bilateral trade of $ 34 billion between India and Saudi Arabia. It is being said that bilateral trade between these two countries could increase significantly after Saudi Arabia showed interest in investing in India.

As we told you that Saudi Arabia, a Gulf country, is now considering other options in the future to reduce its economic dependence on the oil-based economy. In this context, Saudi Arabia is also keen to have an economic partnership with India in areas other than supply of crude oil, petroleum products and LPG.

Here, India also knows that if Saudi Arabia invests in India, it will speed up the country's economy and this investment can contribute significantly in achieving the goal of becoming a $ 5 trillion economy by 2025. On the other hand, investments of millions of crores of rupees from Saudi Arabia will generate huge number of jobs. In such a situation, India has invited Saudi Arabia to invest in strategic petroleum reserves, which can be said that mutual trust between the two countries is increasing.

Now that Saudi Arabia's largest oil company Aramco's partnership with India's Reliance Industries goes ahead, it will allow the entire world, including Pakistan, to know the strategic nature of energy relations between the two countries. For your information, let us know that under the agreement between Aramco and Reliance, Aramco has planned to invest $ 44 billion in India's energy sector at West Coast Refinery and Petrochemicals Project in Maharashtra. Aramco's long partnership with Reliance shows that trade agreements with the two countries will open up further avenues for the future.

So it is clear that Saudi Arabia is going to give a big jolt to Pakistan, which is trying to gain support of Saudi Arabia on the name of Islam on the Kashmir issue. By the way, Saudi Arabia knows that investing in Pakistan is not advantageous in any way. At the same time, by seen the friendly relations between Pakistan and China, Saudi Arabia would have considered it good to keep distance from Pakistan.

This is why, because Saudi Arabia, surrounded by Iran and other enemy countries in the Gulf, would not want to annoy its best friend America to invest in Pakistan and get the benefit of this investment to China through CPEC and Belt and Road project. By showing interest in investing in a huge market like India, Saudi Arabia has reminded Pakistan that its position is that Pakistan is a failed and terrorist country, which can’t be trusted.