Multilateral trade pacts should not be confined to goods alone: PM

Multilateral trade pacts should not be confined to goods alone: PM

Agency News

Riyadh, Oct 29 : Prime Minister Narendra Modi on Tuesday said the multilateral trade pacts should not be henceforth confined to goods alone and these should cater to manpower and talent mobility.

Speaking at the annual Future Investment Institute forum organised by Saudi Arabia, Mr Modi said India will invest a whopping USD 100 billion in oil and gas infrastructure to meet energy needs. "International trade agreements should not be restricted to goods alone. Manpower and talent mobility should be an integral part of it," Mr Modi said, adding that India is investing heavily in oil and gas infrastructures.

India has emerged as the third major player in the StartUp ecosystem, he said and urged the global investors, especially from the Gulf region, to take benefit of the same. "Today, India is the third major player in the Startup ecosystem. In two-tier and three tier cities also, Start Ups are coming up fast. Several Startups in India are investing overseas.

Therefore, I urge all global players to take benefit of India's StartUp ecosystem," the Prime Minister said, delivering the keynote address at the third session of the meet. There is need for 'business friendly' governance measures in today's world, the Prime Minister said, adding that a 'roadmap' for achieving five trillion dollar economy is ready. "We are not only committed to the ease of doing business, but we are also working towards the ease of living," he said and invited global players, especially from the Gulf, to invest in India, including in emerging sectors like health care.(UNI)