PM Modi invites global investors to benefit from India's start-up ecosystem

Prime Minister Narendra Modi on Tuesday invited the global investors to benefit from India's start-up ecosystem.

Delivering the keynote address at Future Investment Initiative (FII) in Riyadh, Saudi Arabia, Modi said India has become the world's third-largest start-up ecosystem at present and added, even in tier-two & three 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,'' he noted.

Under Skill India initiative, in the coming three-four years, 400 million people will be trained under different skills which will provide assured skilled manpower to companies investing in India, the Indian prime minister said.

Modi also expressed happiness over Saudi Aramco's decision to invest in India. 

''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,'' he said.

The aim of this forum (FII) is not only to discuss the economic system here but also to understand the rising trends of the world and look for ways aimed at global welfare, Modi said.

Lauding the relationship between India and Saudi Arabia, Modi said ''Our relations with Saudi Arabia is several years old. Our ancient relations has built a strong foundation for our strategic partnership.''