“Relation is historical…” says LuLu Group MD as India-Saudi Arabia ink key agreements

Updated:2 years, 10 months ago

New Delhi, September 11 (ANI): Speaking on the State Visit of the Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman, Chairman and MD of LuLu Group MA Yusuff Ali thanked Prime Minister Narendra Modi and the Government of India for removing roadblocks in doing business in India and stressed on ease of doing business mode. He said, "The relation between India and Saudi Arabia will increase because the relation is historical...This relationship is historical commercial as well. Now, under the leadership of PM Modi, a lot of liberalisation and ease of doing business has taken place. A lot of restrictions are removed by the PM and the Government of India, whether it is foreign investment or non-resident Indian investment. We are very thankful to him." Over two dozen Memoranda of Understanding (MoUs) were signed between India and Saudi Arabia companies, ranging from IT, agriculture, pharmaceuticals, petrochemicals, and human resources, among other sectors. These MoUs were signed between private companies of both countries. The signing of the MoUs was facilitated by Invest India and Saudi Arabia’s investment ministry. The signing of the agreements happened as Saudi Arabian Prime Minister and Crown Prince Mohammed bin Salman Al Saud began his State visit after having participated in the G20 Summit in New Delhi. MBS arrived in Delhi on a three-day visit on September 09 and stayed back after the G20 Summit for his state visit. In a brief statement, Salman congratulated India for a successful G20 presidency.

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“Relation is historical…” says LuLu Group MD as India-Saudi Arabia ink key agreements

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