During the meeting, Prime Minister Modi sought greater cooperation in improvement of infrastructure, particularly assistance in modernisation of railway stations and called for greater Saudi investment in India through the National Investment and Infrastructure Fund (NIIF).
Both the leaders also discussed in detail the reform needed in the United Nations Security Council and emphasized the need of its expansion to include more permanent members.
Presently, Russia, the United Kingdom, France, People's Republic of China, and the United States are the five permanent members of the body.
Prime Minister Modi also called for strengthened partnership with Saudi Arabia in sectors such as maritime and energy.
He said that India could also become a source of food supply to the Saudi Kingdom.
He further said that he looked forward to an early visit by the Saudi King to India.
Earlier in the day, he also met the G20 Summit host, Chinese President Xi Jinping.
During the talks, Prime Minister Modi highlighted the menace of terrorism, saying the recent attacks show how it is spreading across the world and is, therefore, a matter of grave concern.
He also condemned the terrorist bomb attack at China's embassy in Kyrgyzstan's capital Bishkek.
Later he held meeting with BRICS leaders where he asserted that it is a shared responsibility of the group to shape an internal agenda in such a manner that developing nations achieve their objectives.
During the meeting, Prime Minister Modi insisted on deepening ties with the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) countries.
He also welcomed all the BRICS leaders to the BRICS Summit which will take place in Goa on October 15 and16.
Prime Minister Modi also held bilateral talks with his Australian counterpart Malcolm Turnbull.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)