Riyadh: The Kingdom of Saudi Arabia (KSA) is likely to sign a memorandum of understanding with India’s Ministry of Electronics and Information Technology to increase cooperation in the field of digital technologies and electronics, the Saudi Press Agency (SPA) reported on Tuesday.
This came during the weekly meeting of the Saudi government headed by the custodian of the Two Holy Mosques King Salman bin Abdulaziz.
The cabinet has authorized the Minister of Communications and Information Technology or his representative to hold talks with the Indian side on a draft memorandum of cooperation between Saudi Arabia and India, before referring the final signed copy to complete the formal procedures.
The memorandum of understanding will enhance bilateral communication and exchange of information between the two countries in the field of digitization and electronic manufacturing.
Saudi Aramco eyes new investments in India, after Reliance calls off deal
Earlier on Sunday, November 21, Saudi Arabia’s Aramco, the world’s largest oil company, said it will continue to look for investment opportunities in India, days after Reliance Industries Ltd. scrapped a plan to sell a stake in its oil-to-chemicals unit to the Middle Eastern company.
“India offers tremendous growth opportunities over the long term,” Aramco said in a statement. It will “continue to evaluate new and existing business opportunities with our potential partners.”
“Reliance and Aramco have a longstanding relationship and will continue to look for investment opportunities in India,” Aramco said.