Media Eye News Bureau: PM Narendra Modi said that bilateral trade between India and South Korea in 2017 reached $20 billion for the first time in six years.
He asserted at the India-Korea Business Summit, ‘It is heartening to note that the bilateral trade crossed $20 billion for the first time last year in six years.”
He added, ‘I admire the way in which they have created and sustained their global brands, from information technology and electronics to automobile and steel, Korea has given exemplary products to the world.”
Further Modi asked Korean firms to further expand the $2.55 billion worth of investments they have in the country, mostly in the automobile and engineering sectors as well.
He said, “We are already the third-largest economy by purchasing power. Very soon, we will become the world’s fifth-largest economy by nominal GDP. We are also the fastest-growing major economy of the world today. We are also a country with the one of the largest start-up ecosystems.”
