Prime Minister Narendra Modi on Tuesday said that he admires the entrepreneurship of the Korean people, adding that he admired the way in which the country has created and sustained their global brands.
"I have always been fascinated by Korea. I came here when I was Chief Minister of Gujarat and even before that. Honestly speaking, while in Gujarat, I used to wonder as to how a country of the size of Gujarat can do so much economic progress. I admire the spirit of entrepreneurship of the Korean people. I admire the way in which they have created and sustained their global brands," Prime Minister Modi said, while addressing the India-Republic of Korea CEOs Forum.
"From IT and electronics to automobile and steel, Korea has 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. You also have an impressive infrastructure and record for R and D as well as innovation," he added.
The Prime Minister further said that bilateral relations between South Korea and India have risen after the signing of the Korea-India CEPA in January 2010.
"We in India want to achieve a lot of what Korea has already done. That is why I, along with a large business delegation, am here. The good news is that India-Korea bilateral trade has risen after signing of Korea-India CEPA in January 2010. The South Korean investment zone in Rajasthan State is progressing well," he said.
"Several hundred Korean companies are operating in India. Lot of your products particularly in consumer electronics are household choices for Indians. And many of them are being produced there. Hyundai Motor is the second largest car manufacturer of India," he added.
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Prime Minister Modi also said that there is renewed commitment of his government for changing the face of the country.
"South Korea ranks only 14th in FDI flows in India. I can admit that the reason for this low volume of FDI lies with us not with you. But I can tell you that India was and is a land of potentials. Now, India is also a land of enabling policy environment. Moreover, there is renewed commitment of my Government for changing the face of the country. We can join hands in the mutual benefit of our people and industry. There is a lot that we can do together," he said.
"Your steel-making capacity and our resources of iron ore can be put together. Your ship-building capacity and our agenda of port led development can become driver of our growth. Infrastructure including housing is another field where we can work together in a big way. In my last visit, I had gone to see your wonderful Saemangeum project. We have to create many such Saemangeums. Let us do this for mutual benefit and with a win-win spirit," he added.
The Prime Minister is currently in Seoul for the final leg of his three-nation tour.