On his last day of the 2-day visit to South Korea, Prime Minister Narendra Modi gave an open invitation to the Korean investors. Speaking at a business meet in Seoul he also assured the captains of the Korean industry that his government has “removed all the business hurdles” thereby making India a “suitable and easy place to do business”.
The Prime Minister once again lauded his ambitious ‘Make in India’ campaign, calling it an initiative aimed at promoting manufacturing as well as creating jobs for the youth in a big way.
By stressing the importance of ‘Make in India’ campaign, he said “This campaign and commitment includes bringing our industrial infrastructure, policies and practices to best global standards and to convert India into a global manufacturing hub,”.
Earlier at a summit level meeting between Prime Minister Narendra Modi and South Korean President Park Geun-hye, both the countries signed many agreements showing a strong commitment towards each other’s economic progress.
On Monday, South Korea had promised an investment amounting to 10 billion US dollars for the infrastructure projects, including smart cities and railways, in India. Besides, both the nations also signed a revised Double Taxation Avoidance (DTA) Pact and agreed to begin talks mid next year to widen the scope of free trade pact to boost bilateral economic cooperation.
The Prime Minister also lauded South Korea as a “pillar of democracy” and said South Korea’s economic miracle and global leadership in technology has made the promise of the Asian Century more real.
“If Asia must rise as one, Asia should no longer think of itself in regional fragments,” Prime Minister Modi while addressing the 6th Asia Leadership Conference in the capital city of Seoul.
PM Modi also pointed out the achievements of his BJP-led NDA government an year after it came to power. “We have launched a ‘Clean India’ campaign with emphasis on adoption of better environmental technologies,” he said talking of his another flagship programme.
He also outlined the various steps taken by his government, including fast tracking approvals of industry, infrastructure and hike in FDI.
This is Prime Minister Modi’s last leg of his three nation tour that began on Friday last week in China followed by a day’s visit to Mongolia.