Saudi A to Splash $100 Bln on India

Here. What's another hundred billion, right? 

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(edited)

21 minutes ago, Marina Schwarz said:

Here. What's another hundred billion, right? 

Right strategic move by crowned Prince MBS to diversify its economy. India being upcoming major economy with 1.3 billion populations has unsatiating and growing appetite for oil . Expanding middle class and rapid infrastructure development in India  is opening up new possibilities and opportunities for countries solely dependent on oil revenues. These all are contributing India to become a fertile ground for global Investment due to huge market potential  apart from being a  vibrant and the largest stable democracy in the World. India's young  educated & highly skilled and  cheaper workforce is acting as catalyst for the growth of its economy. India being a super power in  IT and IT enabled services  in the World  had already attracted Tech Giants in the country.

Edited by Sukumar Ray
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It's so right one wonders why it took them so long to make it. But I'd wait until they actually dispense the money before rejoicing. 

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India is making noises that it will disregard U.S. sanctions and continue to buy oil from Iran. This "splash" by Saudia Arabia might be an attempt to curb India's desire to buck the U.S. sanctions. A lot of countries have a lot on the line (trade-wise) with India, for India to be playing tiddly-winks with U.S. sanctions because of cheap oil. If India goes rogue, any country doing business with India could risk sanctions against them also.

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Oh, that's certainly one of the reasons for the splash.

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It's a smart play for the Kingdom in securing customers, it's a move Iran can't afford to make, but it hardly diversifies the KSA out of the oil and gas business and I struggle to see how it adds to efforts to employ Saudis in Saudi Arabia. It will be interesting to see if it's paid out of retained earnings, or borrowed money, or the Kingdom's investment fund.

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1 hour ago, John Foote said:

It's a smart play for the Kingdom in securing customers, it's a move Iran can't afford to make, but it hardly diversifies the KSA out of the oil and gas business and I struggle to see how it adds to efforts to employ Saudis in Saudi Arabia. It will be interesting to see if it's paid out of retained earnings, or borrowed money, or the Kingdom's investment fund.

I think it will be interesting if it is paid out at all..

100 Billion..  nice round figure...

Will they follow through...

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