The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing Memorandum of Understanding between India and Saudi Arabia on establishing a mechanism for investment Infrastructure in Indian.

The MoU will be a step forward in engaging with the institutions of Saudi Arabia to attract a potential investment into the infrastructure sector in the country.  It will lead to boosting infrastructure development in the country, creation of more jobs, growth of ancillary industries/sectors which will lead to growth in GDP and over all economic prosperity.

Memorandum of Understanding on infrastructure investment establishes a mechanism to attract institutional capital into domestic infrastructure projects. Approval of a Memorandum of Understanding with Saudi Arabia establishes a mechanism to facilitate institutional investment into Indian infrastructure, engaging Saudi institutions to channel capital into projects to promote infrastructure development, job creation, and ancillary sector growth, thereby supporting broader economic growth.