India, Saudi Arabia to Jointly Set Up Two Oil Refineries

India and Saudi Arabia have agreed to collaborate on setting up two oil refineries in India, marking a significant step forward in their strategic energy partnership. The agreement was reached during Prime Minister Narendra Modi’s recent visit to Saudi Arabia, where both nations reaffirmed their commitment to deepen bilateral ties.
As part of the discussions, the Joint High-Level Task Force on Investment (HLTF) reached a broad consensus on several key sectors to accelerate investment flows. This includes the $100 billion investment pledge by Saudi Arabia in areas such as energy, petrochemicals, infrastructure, technology, fintech, digital infrastructure, telecommunications, pharmaceuticals, manufacturing, and healthcare.