Future Investment Initiative: Prime Minister Narendra Modi on Tuesday said that India has emerged as the world’s third-largest start-up ecosystem with its start-ups investing at a global scale. He said that even in the two and three-tier cities, the new business establishments have come up. PM Modi extended invitation to the global investors to benefit from India’s start-up ecosystem. He was delivering a keynote address at the Future Investment Initiative (FII) in Saudi Arabia.

In his address, the prime minister said that the aim of the FII established by Saudi Arabia was not only to discuss the economic system in the world but to look for ways for the global welfare besides understanding the rising trends of the world. Commenting on the relation between New Delhi and Riyadh, PM Modi said that the relationship was several years old. He said that the ancient relationship between the two nations has helped to lay a strong foundation for the strategic partnership.

Underlining the steps taken by the Central government in training people the PM said that around 400 million people will be trained under Skill India Initiative in the upcoming three to four years. He emphasised that the programme will help global companies investing in the country to get skilled manpower. The programme was launched in 2015, a year after PM Modi assumed power.

The prime minister said that the government will invest the US $ 100 billion in the energy sector including gas terminals, refining and pipelines. PM Modi expressed his happiness over Saudi Arabia’s decision to invest in the West Coast refinery in Maharashtra. Saudi Aramco and Abu Dhabi National Oil Company are holding stakes in the refinery.

Commenting on the polarity in the world, PM Modi said that the unipolarity or bipolarity is nowhere to bee seen and today the world is multi-polar in which are the countries are inter-connected and inter-dependent. He underlined the importance of smaller countries in increasing today. He concluded that steps should be taken to strengthen the multipolarity of the world.


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