New Delhi, Feb 20: Saudi Arabia on Wednesday made a 'big announcement' vis-a-vis its investment into India.
"Big announcement - Saudi Arabia to invest $100 bn in India - a huge vote of confidence in the Indian economy," MEA spokesman Raveesh Kumar tweeted.
He also said Prime Minister Narendra Modi welcomed the announcement by the visiting Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud.
Saudi Arabia will invest in areas like energy, refining, petro-chemicals, infrastructure, agriculture and manufacturing.
Earlier in his joint media briefing after the delegation level talks, Prime Minister Modi said both sides have agreed to strengthen ties in the renewable sector too.
He also welcomed Saudi Arabia's entry into the International Solar Alliance.
The relation between two countries for cooperation on energy sector should also be taken to the level of 'strategic partnership', Prime Minister said. (UNI)