Riyadh: Need to find a way for world welfare: PM Modi

Riyadh, Ta. October 30, 2019, Wednesday

Addressing the FII Forum held in Saudi Arabia, Prime Minister Narendra Modi said that the purpose of this forum is not only to discuss the economy here, but also to understand the emerging markets in the world and to find a way for world welfare.

Prime Minister Modi said he was forbidden to give business-friendly government. India is aiming to double its economy to $ 5 trillion in the next five years.

If we want to accelerate development in India today, we have to understand the emerging markets. Today India has become the third largest startup ecosystem in the world. Many of our startups are investing globally.

Prime Minister Modi further said, "Today, I would like to talk to you about five major trends that are affecting global business. Today an eco-system of technology-entrepreneurship is being developed in India, from resources and development.

The results of these same efforts have begun to come. Infrastructure is an opportunity worthwhile. The infrastructure business offers a wide range of opportunities to invest. On the other hand, infrastructure is essential for business growth.

We are integrating India's infrastructure with multiple efforts such as One Nation One Power Grid, One Nation One Gas Grid and One Water Grid, One Nation One Mobility Card, One Nation One Optical Fiber Network.

Large quantities of investment in gas and oil infrastructure are increasing in India. By 2024, our target is to invest up to $ 100 billion in refining, pipelines, and gas terminals. India has invested $ 286 billion in FDI in the last five years.