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Prime Minister Narendra Modi holds talks with business leaders of Saudi Arabia
India’s strength rests on three pillars –demographic dividend, demand and democracy: PM
Government working towards establishing a predictable long term taxation regime: PM
Tremendous opportunities for expanding India-Saudi Arabia ties in petroleum, renewable energy, infrastructure, defence, agriculture: PM
India and Saudi Arabia shall look at working together for building a dynamic global management sector for the cyber world: PM Modi

The Prime Minister, Shri Narendra Modi, today interacted with 30 Saudi CEOs and Indian business leaders in Riyadh. He described India and Saudi Arabia as old friends, ready to take bold new steps to a golden future.

Emphasizing the strength of ties between the two countries, he recalled King Salman mentioning that he was taught by an Indian teacher.

He said India had a unique combination of democracy, demography and demand, and several policy initiatives had been taken over the last two years to spur growth and progress.

Speaking about the health sector, he said there was tremendous scope for investment in the manufacturing of medical devices. He said India's health sector which is globally extremely cost competitive, offers immense scope for health tourism. He added that Indian nurses, present in large numbers in the Gulf, are a testament to our well-trained manpower.

He called for taking the economic relationship beyond export and import, to technology transfers and joint investment.

He assured Saudi investors that retrospective taxation was a thing of the past, and his Government believes in a predictable long term taxation regime. He mentioned petroleum, renewable energy, infrastructure, and defence manufacturing, as possible areas for Saudi investment. He said Saudi investment in fertilizers, warehousing, cold chain facilities and agriculture, would be a win-win partnership, as it would ensure good quality food products for Saudi Arabia.

He said India and Saudi Arabia should look at working together in the field of cyber-security.

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BRICS Business Council created a roadmap to achieve $ 500 billion Intra-BRICS trade target by the next summit :PM
PM requests BRICS countries and NDB to join Coalition for Disaster Resilient Infrastructure initiative
PM participates in Leaders dialogue with BRICS Business Council and New Development Bank

Prime Minister Shri Narendra Modi along with the Heads of states of other BRICS countries participated in the Leaders dialogue with BRICS Business Council and New Development Bank.

Prime Minister said that the BRICS Business Council created a roadmap to achieve the $ 500 billion Intra-BRICS trade target by the next summit and identification of economic complementarities among BRICS countries would be important in this effort. The partnership agreement between New Development Bank and BRICS Business Council would be useful for both the institutions, he added.

PM requested BRICS countries and NDB to join Coalition for Disaster Resilient Infrastructure initiative. He also requested that the work of establishing the Regional Office of NDB in India should be completed soon. This will give a boost to projects in priority areas, he added.

PM concluded that our dream of strengthening BRICS economic cooperation can be realized only with the full cooperation of the Business Council and New Development Bank.