India third largest Start-up ecosystem in the world |
Prime Minister Narendra Modi on Tuesday said India has the third¬ largest startup ecosystem in the world, as he sought foreign direct investment for the sector. Calling on global investors to benefit from India`s vibrant start-up ecosystem, that he firmly believes that any investment in India`s innovation sector would yield huge returns. 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. Modi also spoke about the five trends that are shaping the global order — Innovation and technology, Human Resource, future of work, compassion & environment and business friendly governance. The Prime Minister said that the aim of FII is not only to discuss the economic system but also to understand the rising trends of the world and look for ways aimed at global welfare. Reiterating his government`s commitment to make India a $5 trillion economy by 2024, Mr Modi said that as many as 400 million people in India would be trained in different skills in the coming three-four years under the Skill India initiative.
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