Prime Minister Narendra Modi made clear in Seuol that he was there to build India, Korea relations. “ I have always been fascinated by Korea. I came here when I was Chief Minister of Gujarat and even before that,” he said. Modi said that there was potential for cooperation between India’s software and Korea’s hardware industry. Kores’s car making and India’s designing capabilities can be put together. Similarly steel-making capacity of Koerea and India’s resources of iron ore can be joined. Ship-building capacity and port led development can become driver of growth. Infrastructure including housing is another field where both can work together in a big way, he said. Modi addressed prominent CEOs of the two countries, representatives of business and industry . President of the Republic of Korea, PARK Geun-hye was also present.
LOT OF SCOPE
However, there is still a lot of scope for improvement. South Korea ranks only 14th in FDI flows in India. India was and is a land of potentials, he said. ‘’ We can join hands in the mutual benefit of our people and industry. There is a lot that we can do together, he said.’’ He said that he was wondering as to how a country of the size of Gujarat could do so much economic progress. He admired the spirit of entrepreneurship of the Koreans. He also admired the way they created and sustained their global brands. From IT and electronics to automobile and steel, Korea had given exemplary products to the world. Similarly, Korean companies are very strong in construction sector and were involved in building iconic structures around the world. India wants to achieve a lot of what Korea has already done. “ That is why I, along with a large business delegation, are here. The good news is that India-Korea bilateral trade has risen after signing of Korea-India CEPA in January 2010,’’ he said