PM IN SAUDI … PM Modi seeks investment from Saudi business houses; focus on energy and infra

RIYADH: Prime Minister Narendra Modi has invited Saudi business firms to invest in the energy sector in India, saying the government has set a target of $100billion investment in the sector for the period until 2024. The PM was addressing a session at the Future Investment Initiative 2019 here. 

Modi said India aims to be a offers a huge investment opportunity in the infrastructure sector also as he emphasised that the country aims to be a $5 trillion economy in the next five years. In the infrastructure sector alone, the government aims to have an investment of $1.5 trillion in the next five years.

Modi said the country’s ranking has significantly improved in the World Bank’s Ease of Doing Business, Logistic Performance Index and Innovation Index. India’s tax structure and IPR (Intellectual Property Rights) regime are considered best in the world. The PM said India has become the third largest startup ecosystem in the world and offers the highest return to investors.
“India is focusing on skill development by skilling and re-skilling people and 400 million people would be provided training in the next 3-4 years. Manpower and talent mobility should be included in international agreements, which should not be only restricted to goods. He also said the direct benefit transfer scheme has helped the government save $20 billion. — Agencies, IHN-NN



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s