NEW DELHI: Saudi Arabia’s Crown Prince Mohammed bin Salman is expected to announce a $1 billion investment in India’s infrastructure and farming sectors during his first visit to the South Asian nation, experts said.
The crown prince was invited by Prime Minister Narendra Modi and is expected in New Delhi on Tuesday after visiting Pakistan. He will be accompanied by leading Saudi businessmen.
India is hoping the crown prince will announce an investment in its National Investment Infrastructure Fund (NIIF), a sovereign wealth fund that includes private companies and foreign investors. The fund focuses on upgrading India’s infrastructure, including railways and highways.
“We can expect a commitment of around $1 billion,” said Dr. Muddassir Quamar, an associate fellow at the Institute for Defense Studies and Analyzes, a New Delhi-based think tank.
India and Saudi Arabia have traditionally had friendly relations which Modi has sought to strengthen in recent years in a bid to improve ties with major Muslim nations. Observers say the aim is to deny an advantage to neighboring Pakistan, which has close links with Gulf countries.
The Kingdom is India’s top energy supplier and home to more than 3.5 million Indian expatriates. Much of bilateral trade between New Delhi and Riyadh has been based on energy, but both countries are now seeking to broaden ties.
Earlier this week, the Saudi Press Agency said the Kingdom was considering an investment deal in NIIF. Meanwhile, India announced that its Cabinet had approved an agreement between the two countries on investment in infrastructure.
However, Talmiz Ahmad, a former Indian ambassador to Saudi Arabia, said it is up to New Delhi to take advantage of the opportunity and make sure it gets the investment.
“There is plenty of room for investment in infrastructure, but the perception across the region is that India is not business friendly,” Ahmad said. “We need to improve things like acquisition of land, the tax regime and to speed up approvals.”
Apart from investments in energy, India also expects to see deals in agriculture.
India already exports cereals and agricultural products to the Kingdom, and can be an additional source of Saudi food security, Quamar said.
The crown prince’s visit comes at a time of heightened tensions between India and Pakistan after a car bomb killed 44 paramilitary personnel in the disputed Kashmir valley. Islamabad has denied India’s claim that it was involved in the attack.
Observers said that since Riyadh is a staunch Pakistan ally, the latest domestic dispute might limit the success of the visit.
However, Saudi Arabia has condemned the attack, the worst in decades of turmoil in the disputed region.
“We talk a lot about promoting joint ventures,” said Ahmad. “But none of them has any meaning if the region is mired in terrorism. The crown prince has to address the question of violence and terrorism.”
India looks to Saudi Arabia’s crown prince for historic $1bn pledge
India looks to Saudi Arabia’s crown prince for historic $1bn pledge
- Saudi crown prince to announce major backing for Indian investment fund to modernize railways and highways
- New Delhi visit comes at a time of heightened tension between India and neighboring Pakistan
Climate change is a key driver of worldwide hunger, according to IFAD
- IFAD President Alvaro Lario: Food security is intertwined with the current extreme weather events, as it has impacted the world
- Saudi Arabia has contributed over $536 million to IFAD since it started and is among the top 10 donors
BAKU: Climate change is dangerously impacting crops and driving worldwide hunger, according to the head of the International Fund of Agricultural Development.
“Food security is intertwined with the current extreme weather events, as it has impacted the world,” IFAD President Alvaro Lario said in an interview with Arab News on the sidelines of the COP29 UN climate conference in Baku, Azerbaijan.
IFAD reported that in 2023, about 735 million people suffered from hunger caused by climate change.
In addition, unusual rainfalls, according to IFAD, caused a decrease in wheat production and food quality in Europe.
Floods and heat waves caused damage to orange crops in Brazil. In Southern Africa, above-average temperatures led to below-average maize harvests, and in parts of West Africa, erratic rains affected cocoa production and cut output by half.
“We are seeing a lot of the crops are fully being impacted in Brazil, which has been hit by a historic drought, or in Ghana, for example, where there has not been enough rain, cutting the cocoa production by half.”
The IFAD is a UN specialized agency as well as a development finance institution. The organization provides concessional funds and grants to countries and invests in the private sector.
The organization’s key focus is to provide livelihoods and raise income as well as production in low- and middle-income countries.
“Our biggest investments are in the Sub-Saharan region. Fifty-five percent of our funding goes to Sub-Saharan Africa, and up to 60 percent into Africa. But we also operate in the Middle East, Asia, and Latin America. We are currently investing in 90 countries,” said Lario.
The Kingdom of Saudi Arabia is one of the main contributors to IFAD. According to the organization, Saudi Arabia has contributed over $536 million to IFAD since it started and is among the top 10 donors.
In the last 10 years alone, the Kingdom has contributed a total of $96.6 million.
IFAD implemented the first phase of a project to support coffee and mango farmers in the Jazan region.
From 2018 to 2023, the project established 50 model coffee farms and five mango farms in the region, which benefited nearly 30,000 smallholder farmers, according to IFAD.
Furthermore, the project adopted strategic plans through a group of development solutions and pillars that include agricultural sustainability and innovation.
“Small-state islands are among the most vulnerable (to climate change),” said Lario. “We are seeing that sea levels are rising. They are also suffering from hurricanes and long droughts. They suffer from access to potable drinking water.”
Strategies to address the problem and implement adequate solutions have been developed by IFAD according to each country’s climate situation.
“For IFAD, we do have strategies on how we work and how we design our projects. All the strategies are to promote sustainable food systems, also to increase rural non-farm crops, so they can also diversify their income.”
One of the programs the organization is working on is in Belize, in Central America, for heat-tolerant and drought-resistant crops such as maize or beans. Another project involves mixing trees with crops that provide shade to conserve water and combat the rising temperatures in Cuba.
Forum focuses on women’s role in Saudi economy
- Event features broad participation from experts, officials, academics and professionals, focusing on the women’s business sector
- Prince Saud bin Naif highlighted the Saudi leadership’s commitment to empowering women across various sectors
RIYADH: Eastern Province Gov. Prince Saud bin Naif inaugurated the Women’s Economic Forum in Dammam on Tuesday.
The event, organized by the Asharqia Chamber through its Women’s Empowerment Center, features broad participation from experts, officials, academics and professionals, focusing on the women’s business sector.
Prince Saud highlighted the Saudi leadership’s commitment to empowering women across various sectors, the Saudi Press Agency reported.
He emphasized the importance of economic programs designed to enhance women’s contributions to the national economy.
The chamber’s chairman, Badr Al-Rizaiza, briefed the governor on the forum’s objectives and the key initiatives supporting Saudi women’s empowerment.
The forum featured four sessions examining the evolving role of Saudi women under Vision 2030.
Topics included women’s contributions to achieving Vision 2030’s goals, opportunities in the entrepreneurship ecosystem, strategies for business sustainability, and the significance of training in preparing women for leadership roles.
On Wednesday, the forum will host four workshops focusing on key areas, including the Dhahran Techno Valley system and its support for entrepreneurship, as well as tourism entrepreneurship.
The workshops will also cover fostering workplace diversity and inclusiveness, and creative leadership as a cornerstone for success in today’s dynamic business environment.
Pakistan PM receives Saudi deputy interior minister in Islamabad
- Al-Dawood also met with Pakistan’s Interior Minister Mohsin Raza Naqvi and discussed boosting security cooperation
RIYADH: Saudi Deputy Interior Minister Nasser bin Abdulaziz Al-Dawood was received by Pakistani Prime Minister Shehbaz Sharif in Islamabad on Tuesday.
They reviewed bilateral relations and discussed topics of mutual interest, the Saudi Press Agency reported.
Al-Dawood also met with Pakistan’s Interior Minister Mohsin Raza Naqvi and discussed boosting security cooperation.
Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki was among the Saudi officials in attendance.
AlUla Trail Race offers challenges for adventure enthusiasts of all levels
- Participants of all ages and fitness levels are invited to engage in this sporting challenge in a vibrant, competitive environment
- Several races will be held at the event, organized by AlUla Moments, ranging from a 1.6 km Kids’ Run to a 100 km ultra-marathon
RIYADH: The AlUla Trail Race will take place on Jan. 23 and 24, 2025, offering a challenge with stunning scenery for adventure enthusiasts.
Participants of all ages and fitness levels are invited to engage in this sporting challenge in a vibrant, competitive environment, the Saudi Press Agency reported.
Several races will be held at the event, organized by AlUla Moments, ranging from a 1.6 km “Kids’ Run” to a 100 km ultra-marathon, providing options for all skill levels across AlUla’s desert landscape and ancient oases.
The AlUla Trail Race 2025 features seven distinct races, with participants viewing iconic AlUla locations, including Elephant Rock, Maraya (the world’s largest mirrored building), and the UNESCO World Heritage site of Hegra.
The 1.6 km race, for children aged 6 to 12, offers a safe and fun introduction to competitive running. The “Sunset Run” (3 km) allows participants aged 13 and older to explore AlUla’s oasis at sunset.
The 10 km “AlUla Oasis” race is open to runners aged 13 and older, suitable for beginners or those seeking a moderate challenge.
The “Elephant Rock” 23 km race is aimed at more experienced athletes aged 16 and older, and is equivalent to more than half a marathon.
The 50 km “Al-Mejdar” race is the toughest trial for runners aged 18 and older, while the 100 km “Hegra” event is the ultimate challenge for professional runners aged 18 and older, testing endurance in one of the most scenic and demanding races.
The event spans two days. On the first day, participants will register, receive race numbers and equipment, and attend a briefing before heading to the starting locations. Day one will also feature races for children, families and after-sunset events.
On day two, the 10 km, 23 km and ultramarathon races will be held, concluding with a ceremony to honor the winners and distribute awards.
In addition to the competitive atmosphere, the sports village will provide a range of food and beverages, including premium coffee, along with live music and entertainment.
Physiotherapy and rehabilitation spaces will be available for runners post-race.
Riyadh library launches cultural tourism initiative
Riyadh: The King Abdulaziz Public Library in Riyadh has launched an initiative to position Saudi Arabia as a top global destination for cultural tourism by attracting visitors worldwide to explore the library’s diverse branches, both within and outside the Kingdom.
This project aligns with the Kingdom’s Vision 2030 by strengthening national identity, fostering cultural exchange, and supporting sustainable development, the Saudi Press Agency reported.
Through its efforts, the library seeks to showcase Saudi Arabia’s rich heritage, folk arts, and traditions, while deepening citizens’ connections to their cultural roots and contributing to economic diversification.
The library’s general supervisor, Faisal bin Muammar, affirmed its commitment to advancing the Kingdom’s cultural and tourism objectives.
The library’s cultural tourism approach goes beyond traditional collections, offering access to historical and rare manuscripts, art and more.
