Prime Minister Manmohan Singh said that India will grow at the rate of 9 to 10 percent for the next 25 years.

Singh while speaking at the Majlis-ash-Shura, the Saudi parliament said, "Despite the economic slowdown, we hope to achieve a growth rate of 7.5 percent in the current financial year."

Addressing the Majlis is a rare honour conferred by Saudi Arabia on foreign leaders.

Indian Prime Minister believes that India will turn into the largest economies of the world.

"In the next 25 years, we aspire to (having) growth rates of between 9 and 10 percent annually. This will enable us to lift millions of our people out of poverty so as to transform India into one of the largest economies of the world," he added.

Singh’s speech was a highlight of his engagements on the last day of a three-day visit to Saudi Arabia, the first by an Indian prime minister since 1982.

He said, "We seek Saudi investments in a range of sectors from infrastructure and manufacturing to the services and hospitality sector.”

"Equally, Indian industry is ready to take advantage of the many opportunities that are opening up in the IT, banking, telecommunications and pharmaceutical and hydrocarbon sector in Saudi Arabia," Singh added.