India and Saudi Arabia on Tuesday signed five Memorandum of Understandings (MoU) to strengthen the business relationship.

Both the countries also decided to set up a high cooperation council to provide huge impetus to bilateral ties between the nations.

Oil-rich Saudi Arabia sees an investment opportunity of $100 billion in India in various sectors, said visiting Crown Prince Mohammed Bin Salman.

The crown prince arrived in India on a less than 30-hour visit on Tuesday night, a day after concluding his high-profile tour of Pakistan where he said dialogue was the only way to resolve "outstanding issues" between India and Pakistan.

With inputs from agencies.