Published 21:40 IST, October 24th 2019
India to launch RuPay card in Saudi Arabia during PM Modi's visit
The Ministry of External Affairs announced, on Oct 24, that RuPay card will be launched in Saudi Arabia during Prime Minister Narendra Modi’s upcoming visit.
In another expansion of the reach of RuPay card, the Ministry of External Affairs (MEA) announced its launch in Saudi Arabia, which will take place during Prime Minister Narendra Modi’s upcoming visit. PM Modi will be on a two-day visit to the gulf nation where he will launch the RuPay card. The introduction of RuPay in Saudi Arabia is aimed at helping the Indian pilgrims who will visit Mecca and Medina.
RuPay card in the gulf countries
Saudi Arabia will become the third gulf country to have RuPay card facility after the UAE and Bahrain. In August, PM Modi launched the RuPay card by swiped it to purchase laddoos at the Emirates Palace. Incidentally, both Saudi Arabia and the UAE have conferred the highest civilian award to PM Modi. While Saudi Arabia conferred him with the King Abdulaziz Sas in 2016, the UAE honoured him with ‘Order of Zayed’ in August this year.
PM Modi to hold a bilateral meeting
PM Modi will also hold a bilateral meeting in Riyadh with Saudi Arabia King Salman Bin Abdulaziz Al Saud. Prime Minister will also deliver a keynote address at the third session of the Future Investment Initiative (FII) Forum. At the weekly media briefing, MEA announced a joint India-Saudi Arabia naval exercise to be held in December.
"An agreement on the Strategic Partnership Council will also be signed. There will also be separate delegation-level talks with the Crown prince of Saudi Arabia," MEA's TS Tirumurti told the media.
Key agreements and MoUs
The MEA spokesperson said that India is hoping to finalise a Memorandum of Understanding (MoU), during PM Modi’s visit, for Saudi Arabia’s participation in India's strategic petroleum reserves. According to MEA official, Both sides are looking forward to finalising an agreement in the area of migration and protecting interests of the Indian workforce in the country. To boost foreign investment, India is hoping to finalise Saudi Arabia's investment in India's national infrastructure investment fund.
(With ANI Inputs)
Updated 22:25 IST, October 24th 2019