Narendra Modi invites Saudi companies to invest in energy sector
The HinduPrime Minister Narendra Modi on October 29 invited Saudi companies to invest in India’s energy space saying that the government has set a target of $100 billion investment in the sector. Addressing a session at the Future Investment Initiative 2019 in Riyadh, Mr. Modi said India 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. Mentioning about various initiatives taken by the government to improve business climate, Mr. Modi said the country’s ranking has significantly improved in the World Bank’s Ease of Doing Business, Logistic Performance Index and Innovation Index. Asking businesses to take advantage of the startup movement, Mr. Modi said, India has become the third largest startup ecosystem in the world and offers the highest return to investors.