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
Saudi Arabia foreign minister urges a balanced energy transition at G20 Summit session
- Prince Faisal outlined three pillars for effective energy transition during a discussion at the G20 Summit
RIO DE JANEIRO: Saudi Arabia's foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday, Saudi Press Agency reported.
Prince Faisal was leading the Kingdom's delegation during a session titled "Sustainable Development and Energy Transition," SPA added.
Energy security represented a global challenge and an obstacle to development and poverty eradication, the minister said, calling for energy plans that consider each country’s unique circumstances and development needs.
Prince Faisal outlined three pillars for effective energy transition: ensuring energy security, maintaining access to affordable energy, and achieving environmental sustainability.
He stressed that the transition required significant investment and time to maintain market stability while ensuring fairness and inclusivity.
Prince Faisal also highlighted the role of technological innovation in managing emissions and environmental impacts.
He noted Saudi Arabia’s investments in innovative technologies had resulted in one of the world’s lowest emissions intensity rates in oil and gas operations, adding that the Kingdom was also advancing its renewable energy goals, aiming for 50 percent of electricity generation from renewables by 2030.
He added that the Kingdom was also expanding its clean hydrogen production and implementing the circular carbon economy framework to repurpose emissions into valuable products.
During his address, the prince also outlined Saudi Arabia’s commitment to global sustainability through its flagship initiatives, the Saudi Green and Middle East Green programs, which are tailored to the country’s development needs.
He called for enhanced international cooperation to ensure energy transitions are equitable, inclusive, and supportive of global development goals.
Prince Faisal expressed Saudi Arabia’s appreciation for Brazil’s leadership of the G20 in 2024 and extended well wishes to South Africa as it assumes the presidency in 2025, SPA reported.
Multi-billion global AI spending transforming business efficiency, SDAIA official tells Riyadh conference
- Esam bin Abdullah Al-Wagait highlighted these figures during his keynote address at the 9th National Quality Conference
RIYADH: Global spending on artificial intelligence to improve operational efficiency exceeded $120 billion in 2023, with over 72 percent of organizations integrating AI into at least one area of their business, according to data cited by the director of the National Information Center at the Saudi Data and AI Authority.
Esam bin Abdullah Al-Wagait highlighted these figures during his keynote address at the 9th National Quality Conference, held on Tuesday at the Ritz-Carlton Hotel in Riyadh, the Saudi Press Agency reported.
Al-Wagait emphasized the growing role of AI in enhancing leadership capabilities, referencing a study from the 2024 Gartner IT Symposium/Xpo, which found that 97 percent of CEOs believe AI has improved their performance, reduced administrative burdens, and strengthened their ability to lead effectively, SPA added.
Al-Wagait told the conference that AI’s integration across various industries reflected its transformative potential and cited the number of industrial robots deployed in manufacturing operations exceeding 4 million globally in 2023, as reported by the International Federation of Robotics, further underlining AI’s role in operational excellence.
“AI is now a trusted partner for organizational leaders, offering accurate analytics and predictions that enable impactful decision-making,” he said. This trend, he explained, aligned with the concept of AI-augmented leadership, which is reshaping organizational strategies worldwide.
The conference session, themed “Role of Advanced Technologies in Ensuring the Quality of Services and Products,” brought together industry leaders and experts to discuss the role of AI and advanced technologies in improving quality assurance and operational outcomes.
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.
Al-Baha farms offer an escape from busy lives
- There are activities such as cycling and hiking and some farms offer overnight accommodation
AL-BAHA: People seeking a tranquil escape from the hustle and bustle of their daily lives are flocking to tourist farms in Al-Baha region.
The centers offer a unique blend of natural beauty, agricultural experiences and recreational activities, where visitors can spend their time picking fruit, helping with crop harvesting or learning about organic farming techniques.
There are also activities such as cycling and hiking and some farms offer overnight accommodation, enabling guests to experience the beauty of the starry night skies.
The farms are committed to sustainability and use eco-friendly practices to protect the environment.
Fahd Al-Zahrani, director of the Ministry of Environment, Water and Agriculture branch in Al-Baha, said agritourism was becoming increasingly important in the region as it created jobs, boosted the local economy and helped diversify the tourism sector.
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.
