Saudi Aramco in talks with Reliance Industries for investments

"Modi welcomed the announcement of crown prince to invest $100 billion in India in a range of areas like energy, refining, petrochemicals, infrastructure, agriculture, manufacturing, etc.", T.S. Tirumurti said. Asserting that Pulwama attack last week was another cruel imprint of terror, Modi said, "We agreed that to fight this challenge, there is need to put pressure on countries extending any kind of support to terrorism".

In his media statement, PM Modi called the attack a "cruel symbol" of the scourge of terrorism and sought punishment for the terrorists and their backers.

Infrastructure, industrial development and logistics were also important topics of discussion during the event, as Saudi Arabia activates investment opportunities worth $453 billion as part of its National Industrial Development and Logistics Program (NIDLP).

"Modiji on 20 February saying - India and Pakistan will talk as Modiji has been trying for since May 2014", he said, referring to a paragraph in the document that talked about the Indian and the Saudi sides agreeing on the need for creation of conditions necessary for resumption of comprehensive dialogue between India and Pakistan.

Tirumurti denied that Saudi Arabia offered to mediate between India and Pakistan to de-escalate tension in the backdrop of Pulwama terror attack.

Addressing the summit, Nasser added that India is expected to have a huge oil demand rise by 2040.

The crown prince said he hoped the investment opportunities for his country in India could exceed $100bn over the next two years, without giving any details.

At a news conference Wednesday with Modi, Mohammed said he "shares India's concern on terrorism" but did not mention Pakistan - where he just was, a day earlier.

"Saudi Arabia has a lot of capital that needs to find profitable places to be deployed", Saudi energy and industry minister Khalid bin Abdulaziz Al-Falih told China's official Xinhua news agency.

Saudi Oil Minister Khalid al-Falih and RIL Chairman Mukesh Ambani a year ago in a meeting discussed opportunities for joint investment and cooperation in petrochemical, refining and communication projects.

'Horrible situation' US President Donald Trump has described as "horrible" the terror attack by Pakistanbased Jaish-e-Mohammed in Pulwama, as his administration asked Islamabad to punish anyone responsible for the "heinous act". "We are humbled and happy to bring this standardised quality experience to the Kingdom of Saudi Arabia, where millions of people undertake the pilgrimage of a lifetime", said Ritesh Agarwal, Group CEO and Founder, OYO. Chinese Vice Premier Han Zheng and Crown Prince Mohammed will then co-chair the third meeting of the China-Saudi Arabia High-Level Joint Committee.

In another important takeaway, Salman also announced the increase in quota for Indian Haj pilgrims to 200,000.

  • Jon Douglas