Saudi Arabia Looks to Invest Billions in India Via New GIFT City Office
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Saudi Arabia could open an office of its sovereign wealth fund in India's GIFT City financial services centre.
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GIFT City aims to rival financial hubs like Dubai and Hong Kong. India invited Saudi to set up an office there.
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During the Saudi Crown Prince's visit, India and Saudi signed 50 initial agreements and set up a task force for $100 billion in Saudi investment in India.
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Projects include a planned $50 billion refinery project in Maharashtra, though land acquisition issues remain.
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Saudi is looking to invest in sectors like oil, gas, petrochemicals, new energy, technology, manufacturing, and defense in India.
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