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Cabinet approves India, Saudi Arabia MoU to boost investment in infra

Press Trust of India  |  New Delhi 

The government Wednesday approved the signing of Memorandum of Understanding between and on establishing a mechanism for investment in infrastructure.

The MoU will be a step forward in engaging with the institutions of to attract a potential investment into the infrastructure sector, an official statement said.

It will lead to boosting infrastructure development in the country, creation of more jobs, growth of ancillary industries/sectors which will lead to growth in GDP and over all economic prosperity.

In another decision, the Cabinet cleared the signing of Memorandum of Understanding between and on cooperation and mutual assistance in Customs matters.

The agreement will help in making available, reliable, quick and cost effective information and intelligence for the prevention and investigation of customs offences and apprehending of customs offenders.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 21:50 IST