Prime Minister Narendra Modi addressed the 2nd India-Korea Business Summit 2018 in New Delhi today. Finance Minister Arun Jaitley, Commerce Minister Suresh Prabhu, Minister of Electronics and IT Ravi Shankar Prasad, top officials of Ministry of Commerce and Industry (MoCI) are also going to talk during the summit. “India-Korea: Scaling up the Special Strategic Relationship through Trade and Investments”. Prime Minister began his address by sharing the similarities between the two countries, telling the audiences about the “From Princess to Poetry and from Buddha to Bollywood; India & Korea have so much in common”.
He noted that its was appreciative that the bilateral trade between the two countries has passed 20 million. He congratulated the people of Korea for their business skills and how they’ve they have sustained their brands across the world. He also said, “I visited Korea when I was CM of Gujarat. I used to wonder how can make such progress! I admired the way they have created & sustained a global brand. Korea has given exemplary products to the world.”
“We have worked towards creating a stable business environment, removing arbitrariness in decision making. We seek positivity in day to day transactions. We are widening areas of trust; rather than digging into doubts. This represents a complete change of the Govt’s mindset.” “We are already the third-largest economy by purchasing power. Very soon, we will become the world’s fifth-largest economy by nominal GDP. We are also the fastest growing major economy of the world today. We are also a country with the one of the largest Start up eco-systems.”
About the country, he said, “If you see around the globe, there are very few countries where you have three important factors of economy together. They are: Democracy, Demography and Demand. In India, we have all the three together.” He admitted that India is going to provide a lot of potential to the Korean business’ to flourish in the Indian markets.