India sign 7 ties with South Korea


Seoul:Prime Minister Narendra Modi today said India considers Korea a crucial partner in India’s modernization.  Addressing a joint press conference in Seoul along with South Korea President Park Geun-hye the Prime Minister said there is more potential for trade cooperation between the two countries and the two nations have agreed to boost it further.  The Prime Minister said that the two nations have agreed to enhance the bilateral ties to the level of special strategic relations. 

The Prime Minister said that India and South Korea have agreed to further boost the participation of South Korean companies under the ‘Make In India’ programme.India and South Korea have a robust economic engagement, and Prime Minister Modi’s visit is set to deepen the partnership between both the countries. 

Important business meets and signing of agreements will be a part of Prime Minister’s itinerary as significant business in fields of trade, shipping, logistics and new energy is expected to be conducted. India and Korea trade ties hold significance as bilateral trade between both countries currently stands at around 17 billion dollars. Some 400 companies are doing business in India with investments of over 3 billion dollars. The focus is on getting assistance from South Korea for smart cities, Digital India and Swachh Bharat Abhiyan programmes.