In Saudi, Modi hard sells India as the investment destination

In Saudi, Modi hard sells India as the investment destination

Submitted by Editor on Sun, 2016-04-03 12:36 Saudi Arabia: Indian Prime Minister Narendra Modi arrived here on Saturday on his maiden two-day visit, which aims to bolster bilateral ties and strategic partnership to further enhance security and counterterrorism cooperation.Modi will hold talks with Custodian of the Two Holy Mosques King Salman on a range of subjects and international issues of mutual concern following which both sides are expected to sign a number of MoUs. Modi will also meet Crown Prince Mohammed bin Naif and Deputy Crown Prince Mohammed bin Salman to discuss issues of mutual interests.On Saturday, Modi held a meeting with about 500 members of the Indian community at the InterContinental Hotel, where he said that the ongoing economic development in India is well acknowledged worldwide and Indians can contribute handsomely to the homeland as well as other parts of the world, which now look upon India with expectations.He said the time is gone when India was treated as one of the many countries on the world map. “India has now emerged as a powerful country and the economy is doing well despite the global slowdown.”Aware of the rich Indian diaspora with the huge presence of Indian Muslims in the Kingdom, Modi reiterated his election promise of inclusive growth in India saying his government is committed to it, as it will help take India to new highs.Modi later visited the historic Masmak Museum. Earlier, upon arrival at King Khalid International Airport, Modi was received by Riyadh Gov. Prince Faisal bin Bandar and a number of senior officials.“India is a historic partner for our country and we hold a common outlook on life, including many traditions and values,” said Abdullateef Al-Othman, governor of the Saudi Arabian General Investment Authority (SAGIA), Friday.Al-Othman told Arab News that a framework for investment promotion would be signed between SAGIA and the National Investment Promotion Agency of India. He said Modi’s two-day visit “comes at a time when we can build on strong foundations to chart out new frontiers of strategic investments and partnership.” He said: “We are very excited about the prospects of this visit … Indian enterprises, conglomerates, small and innovative firms are all welcome.”Modi would address a large group of Saudi and Indian businessmen at the Council of Saudi Chambers here on Sunday. Immediately after his arrival in Riyadh, he would be welcomed by the Indian community at a reception at a local hotel.Modi has also chosen to interact on Saturday with the workers and managers of a major Indian company Larsen