(ET)
Prime Minister Narendra Modi on said India has the third-largest startup ecosystem in the world, as he sought foreign direct investment (FDI) for the sector. He also invited Saudi Arabian companies to invest in India’s energy space, saying the government has set a target of $100 billion investment in the sector by 2024.
In his keynote address to the Future Investment Initiative or Davos of the Desert, Modi underlined the importance of technology and infrastructure.Later, at an interactive session, Modi rued that strong people are using the UN as an instrument and the global body does not contribute to a neutral rules-based global order. Mentioning initiatives to improve business climate, Modi said India’s ranking has improved significantly in the World Bank’s Ease of Doing Business, Logistic Performance and Innovation Index.
