Riyadh: Prime Minister Narendra Modi spoke at the Future Investment Initiative (FII) 2019 held in Saudi Arabia today. He outlined his future vision for India and invited Saudi Arabian companies to invest in the energy sector of India. He also called investors to invest in the start ups in India for better returns.
Modi also reiterated his commitment to make India a $5 trillion economy in the coming 5 years. He said that around 400 million Indians will be trained under the Skill India mission.
Narendra Modi said that his government has set a target of $100 billion investment in the energy sector. He also said that there is a huge opportunity to invest in the infrastructure sector of the country, where the government aims to have an investment of $1.5 trillion in the coming five years.
The Prime Minister highlighted the initiatives taken to improve the investment friendliness of the country. He said that the country has improved its ranking in World Bank’s Ease of Doing Business, Logistic Performance Index and Innovative Index.
He said that the tax regime and the Intellectual Property Rights in India are the best in the world.
Modi called investors to benefit from the country’s vibrant start-up ecosystem which is the third largest in the world.
He said, “India is the third largest start up ecosystem in the world. even in Tier-II and Tier-III cities of India, start ups have come up. Our start ups have started investing at a global scale. I invite global investors to benefit from our start up ecosystem. I firmly believe that any investment in innovation would give highest returns. ”
Modi added that the FII should understand the rising trends of the world and look for ways aimed at global welfare.
The FII has been hosted by Saudi Arabia since 2017 to promote Saudi as a potential investment hub in the region. This forum is dubbed as ‘Davos in the Desert’ to highlight the nature of the forum and the country that his hosting it.
