PM Modi lands in Saudi, hails 'valued friend'

Riyadh: Prime Minister Narendra Modi, who is in Riyadh on a two-day official visit, bragged about India’s growth while talking to Arab News.

He credits India’s move up on the World Bank’s Ease of Doing Business Index from 142 in 2014 to 63 in 2019 to its easy reforms and investor-friendly initiatives.

Pm also mentioned several Indian initiatives that have opened doors for foreign investments. The initiatives mentioned by the PM are Make in India, Digital India, Skill India, Swachh Bharat, Smart Cities, and Startup India.

He went on to describe Saudi Arabia as a "valued friend" and applauded the nation’s reform program as part of their Vision 2030.

Modi landed in Riyadh on Monday night, is slated to attend the Plenary Session of the Third Future Investment Initiative Forum on Tuesday. "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 programmes during this visit," tweeted Modi.

At the Forum, Modi will speak about the growing trade and investment opportunities for the global investors in India as the country marches forward to a $5 trillion economy by 2024.

Major energy deals were set to be inked during the Modi's visit, including the West Coast Refinery Project and for India's Strategic Petroleum Reserve (SPR) Programme.

The West Coast Refinery Project is a $44 billion project in Maharashtra in which Saudi Aramco will hold considerable stake. Under the SPR Programme, three massive underground storage facilities that India is building to ensure energy security.

With inputs from IANS.

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