Riyadh, October 29 (NDTV): Prime Minister Narendra Modi landed in Riyadh on Monday for a two-day state visit. The Prime Minister delivered the keynote address at The Future Investment Initiative and is scheduled to hold bilateral talks with top leadership of the Gulf Kingdom.
“Landed in the Kingdom of Saudi Arabia, marking the start of an important visit aimed at strengthening ties with a valued friend. Will be taking part in a wide range of programs during this visit,” the Prime Minister tweeted.
Prime Minister Narendra Modi and Saudi King Salman bin Abdulaziz Al-Saud on Tuesday condemned terrorism in all its forms and agreed to step up bilateral security cooperation. They also discussed cooperation in agriculture, oil and gas, maritime security, innovative technology, renewable energy, trade and investment between the two countries during their talks.
The Prime Minister delivered the keynote address under the title ”What’s next for India?” at the Future Investment Initiative (FII), which is dubbed as ”Davos in the Desert”. Here are some of the key points Modi made:
Today, India has succeeded in eradicating poverty at a fast pace. My way to fight against poverty is to empower the poor. The poor wants dignity. When I build toilets for them, I do not just give them a facility. I give them dignity: PM Modi
UN An Instrument For Positive Change
We have to think whether the UN has risen to the occasion when it comes to conflict resolution. I had raised this issue when the UN turned 70 but much discussion couldn’t happen. I hope this topic is discussed more actively when the UN turns 75. A body like the UN shouldn’t merely be an institution but also an instrument for positive change: PM Modi
Need For Mutli-Polar Order
The times of a bipolar world have gone. We live in a time where every nation is connected and dependent on each other. Need of the hour is to strengthen a multi-polar order. Each and every nation is important today: PM Modi
India Performing Well on Global Indices
India has been consistently performing well in the global indices. There has been a jump by 10 ranks in Logistics Performance Index. In Global Innovation Index, we have jumped 24 spots. In the World Bank’s Ease of Doing Business Index, we have jumped from the 142nd spot in 2014 to the 63rd spot in 2019: PM Modi
Skilled Indian Workforce
India’s skilled human resource has received respect and prestige across the world. Indian talent has carved out a unique identity in Saudi Arabia as a law abiding and skilled workforce. We have developed a comprehensive vision to develop skills in India. Through the Skill India initiative, we will train 400 million people in various skills over the next 3-4 years. Companies investing in India will definitely get skilled man power from this: PM Modi
India’s tax structure is now being compared with the best tax structure in the world today. We have abolished over 1500 old laws, 350 million people were added to the bank. Direct benefit transfer saves $20 billion and we have launched the world’s largest healthcare program Ayushman Bharat: PM modi
Oil And Gas
There is an increase in the investment in oil and gas infrastructure. By 2024, we aim to invest up to $100 billion in refining, pipelines and gas terminals: , Modi said.
“No possibility of capital saturation”
We have also dramatically increased our speed and scale of building infrastructure. The growth of infrastructure in India will be in double digits, and there is no possibility of capacity saturation. Due to this, investors will also be assured of returns: PM Modi
Integration Of India
One Nation One Power Grid, One Nation One Gas Grid, One Water Grid, One Nation One Mobility Card, One Nation One Optical Fibre Network are some of the initiatives through which we are integrating India’s infrastructure: PM Modi
Plans of $10 billion investment in Oil and Gas Industry
By 2024, we aim to invest $100 billion in refining, pipelines, gas terminals. I am happy that Saudi Aramco has decided to invest in West Coast Refinery Project – which will be the largest refinery of Asia: PM Modi was quoted as saying by ANI
Under Skill India initiative, in the coming 3-4 years, 400 million people will be trained under different skills. This will provide assured skilled manpower to companies investing in India: PM Modi was quoted as saying by ANI
Today, India has become the world’s third largest start-ups ecosystem. Many of our startups are investing globally. Even in tier-2&3 cities of India startups have come up. Our start-ups have started investing at global scale. I invite global investors to benefit from our start-up ecosystem: PM Modi was quoted as saying by ANI
Target of $5 trillion economy
India has set a target of doubling its economy to $ 5 trillion in the next five years. Today in India, if we want to speed up development, then we have to understand the emerging trends: PM Modi
“From a purely buyer-seller relationship, we are now moving toward a closer strategic partnership that will include Saudi investments in downstream oil and gas projects,” PM Modi said in an interview to Arab News, according to a statement released by his office and reported by news agency Reuters.
Modi meets Prince Abdulaziz bin Salman
PM Modi meets Prince Abdulaziz bin Salman in Riyadh. On Twitter he said, “The visit will contribute to the bonds of friendship between India and Saudi Arabia. I held a distinguished meeting with His Royal Highness Prince Abdulaziz bin Salman. The energy sector remains an important pillar in the relations between our two countries.”
Modi meets Saudi Arabia’s Minister of Environment, Water and Agriculture, Abdulrahman bin Abdulmohsen Al-Fadley.
Saudi Arabia: Prime Minister Narendra Modi meets Saudi Arabia’s Minister of Environment, Water and Agriculture, Abdulrahman bin Abdulmohsen Al-Fadley, in Riyadh.
Modi To Arab News
“Within G20, India and Saudi Arabia have been working together to reduce inequality and promote sustainable development. I am happy to note that Saudi Arabia will be hosting G20 Summit next year and India will host it in 2022, our 75th anniversary of independence.” ANI
Prime Minister Narendra Modi’s visit to Saudi Arabia heralds a new era in Indo-Saudi relations, Dr Ausaf Sayeed, India’s ambassador to Saudi Arabia has said while adding that the visit will further bind the two nations in an even stronger strategic partnership.
(The featured image at the top showing Indian Prime Minister Modi shares a joke with Prince Salman of Saudi Arabia)