Saturday, August 15, 2020
Home Business Prime Minister Narendra Modi Stern On Intensifying India-Korea Economic Relations

Prime Minister Narendra Modi Stern On Intensifying India-Korea Economic Relations

India features among the top 10 trade partners of South Korea and is the sixth largest export destination for S Korean goods with the trade volume reaching $21.5 billion in 2018. 

Making a call to intensify the India-Korea economic relations, Prime Minister Narendra Modi here on Thursday urged more Korean businesses to turn their attention towards India.

“I wish to see more and more Korean businesses turning their attention to India,” Modi said.

Addressing the India-Korea Business Symposium, Modi who is on a two-day official visit to South Korea, said India has become one of the most open countries for foreign direct investment (FDI), recording $250 billion inflow in the past four years.

India
Highlighting the sound fundamentals and that the Indian economy is on its way to become a $5 trillion economy soon, Modi said no other large economy in the world has grown at 7 per cent year after year.
Pixabay

Noting that this was his third interaction with the Korean business leaders in 12 months, Modi said: “Negotiations to upgrade the comprehensive economic partnership agreement (CEPA) have been fast-tracked to achieve the bilateral trade target of $50 billion.”

India features among the top 10 trade partners of South Korea and is the sixth largest export destination for S Korean goods with the trade volume reaching $21.5 billion in 2018.

Money
Trade Groups Claim, American’s Detention Is A Potential Moment For Russia. Pixabay

“Not just trade, in terms of investment also we are seeing a positive turn. Korean investments into India have reached a cumulative figure of almost $6 billion,” the Prime Minister said.

Noting that the South Korean National IT Industry Promotion Agency (NIPA) has opened its India office in Bengaluru to facilitate Korean startups in India, the Prime Minister said both the countries have decided to set up a future strategy group (FSG) and a centre for research and innovation cooperation.
Also Read: Trade Groups Claim, American’s Detention Is A Potential Moment For Russia
Highlighting the sound fundamentals and that the Indian economy is on its way to become a $5 trillion economy soon, Modi said no other large economy in the world has grown at 7 per cent year after year.

India, he said, has jumped to the 77th spot on the World Bank’s “ease of doing business” rankings on the back of reforms and is determined to break into the top 50 next year. (IANS)

STAY CONNECTED

18,953FansLike
362FollowersFollow
1,780FollowersFollow

Most Popular

Here’s How an Online Training Helped me Land my Dream Job

About the Author: Apurva Bhalerao is a postgraduate in Mechatronics. She joined Internshala Trainings for Internet of Things training. She shares how an online...

Internships for Students With Good People Skills

College students, especially the first and second year ones, often hesitate to apply to internships for the reason that they don’t have any job-specific...

73% Females in Rajasthan Facing Issues in Procuring Sanitary Napkins During Lockdown

Seven of every 10 adolescent females, nearly 73 per cent, in Rajasthan say they have had a problem procuring sanitary pads during lockdown in...

I Believe Dance is like Talking Without Speaking: Govinda

Actor Govinda sees dancing more like talking, sans words. "I believe that dance is more like talking without having to actually speak or use words....

Google Search to Provide you With Necessary Information About Floods in India

Google is already sending public alerts to people hit by flooding in India and users in India can now use Search to simply enter...

Yoga Improves Symptoms of Generalised Anxiety Disorder: Researchers

Researchers have suggested that yoga improves symptoms of generalised anxiety disorder, a condition with chronic nervousness and worry, suggesting the popular practice may be...

Young Women More Stressed Than Men During Lockdown: Survey

A recent survey on the impact of the Covid-19 pandemic on people between 10 and 24 years in UP, Bihar and Rajasthan has revealed...

Doctors Estimated 3 Folds Rise in Deaths of Patients During Lockdown Due to “Waitlist Mortality”

By Ashish Srivastava The nationwide lockdown imposed from March 24 has affected services across sectors, and key areas of medical care were also not left...

Recent Comments