On the 29th of October, Prime Minister Narendra Modi delivered the keynote address at the Future Investment Initiative (FII,) an investment forum organised in Saudi Arabia.
During the FII session, Mr. Modi spoke about the need to reform the United Nations (UN) and signed memorandums for investment in India.
Mr. Modi emphasised on the need of investment for development and also promised stable and transparent investments.
During the question-answer session at the FII, Modi also spoke about his life journey and struggles. He said, “My background is not that of any big political family. I have not learnt about poverty from the books but I have lived it. I have reached here by selling tea on the railway platform.”
He proudly said in a few years, India would successfully eradicate poverty and spoke about how the Government of India is fighting against poverty by encouraging and creating job opportunities for the poor. He said, “Poor need dignity. When a poor person says that he will himself end his poverty, then there is no greater satisfaction. All we need is to provide him with dignity and empower him.”
Prime Minister Modi also shared India’s plan of investing 100 billion USD in oil and gas infrastructure to fulfill the energy needs of the economy, with a target to double in 5 years.
Meanwhile, Mr. Modi also sought investments from oil companies to boost the oil supply and improve the economy.
PM Modi shared the FII stage with Ray Dalio, the founder, Co Chairman and Co Chief Investment Officer of Bridgewater Associates.
Mr. Modi also conducted bilateral meetings with the top leaders of Saudi Arabia. He met Saudi King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman. The meeting was fruitful as they established a Strategic Partnership Council to coordinate on important issues.
The leaders also signed a memorandum of understanding to launch the RuPay card in the Kingdom, which makes Saudi Arabia the 3rd country to have India’s digital payment system.
Raveesh Kumar, the Spokesperson of the External Affairs Ministry, took to Twitter and shared about the departure of PM Modi from Saudi Arabia. He said, “Leaving with a marked upswing in bilateral relations. PM Narendra Modi departs from Riyadh after steering the India-Saudi relationship on an upward trajectory pointing towards greater collaboration in (the) future.”
Prime Minister Narendra Modi Modi left from Saudi Arabia on the 30th of October.
Stay tuned for further updates.
