PM Modi addresses India-Korea business symposium
Prime Minister Narendra Modi’s 3rd interaction with South Korean Industry and Business heads in just 12 months and his very first engagement on his second visit to Seoul the importance given by India to business and trade ties with Republic of Korea clearly illustrated.
Prime Minister launched the India-Korea Startup Hub at the India Korea Business Symposium.
India has introduced the flagship program Start-up India with 1.4 billion Dollars fund for four years.PM Modi said that South Korea too has unveiled a program to spend 9.4 billion Dollars by 2020 in a bid to boost startups.
A Korea specific facilitation cell “Korea Plus” under ‘Invest India’ was launched after PM Modi’s visit to Korea in 2015.Today, Hyundai, Samsung, LG electronics have become trustworthy brands in India.
Over 600 Korean companies have invested in India.Prime Minister Modi described South Korea as a natural partner for India especially in meeting the growing investment demands in the infrastructure sector in India.
Prime Minister Narendra Modi said India has emerged as a land of opportunities and invited South Korea to be apart of this growth journey.PM said thatIndia is among top 10 trade partners of Korea and India is the 6th largest export destination for Korean goods.
He added that India is set to become a 5 trillion dollar economy in the near future.Trade Minister of Korea too called for increased collaboration in the manufacturing sector.Prime Minister Narendra Modi’s visit to South Korea will most certainly take the fast growing partnership between the two countries to the next level.
