NEW DELHI: Oil-rich Saudi Arabia Wednesday said India is its No.1 priority foreign investment destination and its companies are looking at becoming household names in the country with projects in oil refining, petrochemicals and fertilisers.
Speaking at Saudi India Forum, Saudi Oil Minister Khalid Al-Falih said the oil-rich Kingdom was excited about reforms and the opening up of the market in the country and is keen to partner in the growth.
“India is an economy that is on its way to becoming the second largest economy in the next 2-3 decades,” he said offering Saudi Arabia as a platform for further growth into markets in the Middle East and Africa.
Saudi Arabia has been India’s main crude oil supplier and LPG.
“Energy, of course, is a major bridge for Saudi Arabia and India,” he said. “(But) We are not just about trade. We are not marketers or sellers. We are investors. We want (Saudi national oil company) Saudi Aramco and (petrochemical giant) SABIC become household names in India.” (AGENCIES)
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