Saudi Arabia is a key pillar of India’s energy security, being a source of India’s 17% of crude oil and 32% of LPG needs.

RIYADH (Saudi Arabia): Saudi Arabia, the world’s biggest oil exporter, is looking at investing USD 100 billion in India in areas of petrochemicals, infrastructure and mining among others, considering the country’s growth potential.

Saudi Arabia is a key pillar of India’s energy security, being a source of 17 per cent of crude oil and 32 per cent of LPG requirements of India.

Saudi Ambassador Dr Saud bin Mohammed Al Sati has said India is an attractive investment destination for Saudi Arabia and it is eyeing long-term partnerships with New Delhi in key sectors such as oil, gas and mining.

“Saudi Arabia is looking at making investments in India potentially worth USD 100 billion in the areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining,” Al Sati said in an interview.

The envoy said more than 40 opportunities for joint collaboration and investments across various sectors have been identified between India and Saudi Arabia in 2019, adding the current bilateral trade of USD 34 billion will undoubtedly continue to increase.



“There is huge untapped potential available in merchandise trade, particularly in non-oil trade and we are enhancing cooperation in economic, commercial, investment, cultural and technological fields,” the envoy said.

He said Saudi Arabia’s biggest oil giant Aramco’s proposed partnership with Reliance Industries Ltd reflected the strategic nature of the growing energy ties between the two countries.

The envoy said investing in India’s value chain from oil supply, marketing, refining to petrochemicals and lubricants is a key part of Aramco’s global downstream strategy.

“In this backdrop, Saudi Aramco’s proposed investments in India’s energy sector such as the USD 44 billion West Coast refinery and petrochemical project in Maharashtra and long term partnership with Reliance represent strategic milestones in our bilateral relationship,” he said.

The envoy said the vision 2030 of Crown Prince Mohammed bin Salman will also result in a significant expansion of trade and business between India and Saudi Arabia in diverse sectors.

NEW DELHI: India Innovation Index (III) 2019 has been released by NITI Aayog on October 17, 2019. The index highlights that Karnataka is the most innovative state in India however, Telangana, Tamil Nadu, Haryana, Maharashtra, Uttar Pradesh, West Bengal, Kerala, Andhra Pradesh and Gujarat are among top ten in the list.

Delhi and Sikkim have secured top scores among union territories and North-Eastern hill state list respectively.

Some other states like Tamil Nadu, Delhi, Maharashtra and Karnataka are among the most efficient states who translated inputs into outputs.

The Innovation Index 2019 was launched to create a holistic tool which can be used by policymakers across the country to identify the challenges to be addressed. The index will also provide strengths to build on when designing the economic growth policies for their regions.

Official press release of the government informed that states were bifurcated into three categories the Major States, union territories/ city-states/small states and northeast/hill states.

The Performance dimension captures benefits that a nation derives from the inputs, divided in two pillars: (1) Knowledge Output and (2) Knowledge Diffusion.

Earlier Chennai and Bengaluru had introduced smart restaurants with robots machines imported from China. 

BHUBANESHWAR (Odisha): A Bhubaneswar-based restaurant has deployed two indigenously developed robots to serve customers. The restaurant ‘Robo Chef’ located at Infocity DLF Tower area in the Odisha’s capital opened on Wednesday.

The robots named ‘Champa‘ and ‘Chameli‘ have been tasked with taking orders from customers as well as serving food, replacing waiters at the ‘smart’ restaurant.

Earlier Chennai and Bengaluru had introduced smart restaurants with robots machines imported from China.

The Restaurant owner, Jeet Basha says that he was inspired by the services of robots in restaurants during his visit to the US and wanted to create the same in Bhubaneswar.

The robots are developed at a Jaipur-based startup using SLAM technology, and it automatically navigates like humans, follows the routes and instructions.

After serving customers, the robots have been programmed to ask, “Apana Mane Khusi Ta?” (Are you happy?) in Odia as well as English, as the dialogue by CM of Odisha Naveen Pattnaik has gained popularity among masses.

Commerce Minister Piyush Goyal has said that the government is probing Flipkart and Amazon for alleged predatory pricing.

MUMBAI (Maharashtra): Union Commerce Minister Piyush Goyal has said that the government is probing WalMart-owned Flipkart and Amazon over the alleged predatory pricing. Speaking to reporters in Mumbai, Goyal said detailed questionnaires have been sent to these companies and their response is awaited.

Stating that e-commerce companies have no right to sell products at discounts that will result in retail sector incurring major loss, Goyal said these platforms are only allowed to connect potential sellers and buyers.

The Minister said stringent action will be taken if there is a violation of any law in the letter or in spirit.

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The matter comes after the Confederation of All India Traders had written to the Ministry seeking an audit into the business model of all e-commerce firms and the foreign-owned Amazon and Flipkart in particular.

The letter had asked the government to verify Amazon and Flipkart’s claims that individual brands are offering discounts and not them.

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