Saudi Arabia has assured its "desire and readiness" to provide India with its "present and future" oil needs, a move that will help the country meet the growing energy requirements.

Confident that India's GDP will grow at 9 to 10 per cent annually in next 25 years, Prime Minister Manmohan Singh on Monday sought Saudi investment in sectors ranging from infrastructure to hospitality as the country aspires to be one of the largest economies of the world.

India and Saudi Arabia have vowed to jointly combat terrorism and money laundering as they signed an Extradition Treaty and several agreements to raise their cooperation to a strategic partnership covering security, economic, energy and defence areas.

A memorandum handed to Prime Minister Manmohan Singh appealed for immediate action to repatriate undocumented Indians living at a location in Jeddah city of Saudi Arabia.

Giving a new dynamism to bilateral ties, Prime Minister Manmohan Singh today said India sees Saudi Arabia as a strategic partner for promoting peace, stability and economic development and that the conditions were ripe for the two countries to enter into a comprehensive energy partnership.