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India on a drive to improve investment climate, ease of living: Narendra Modi

Note4students

Mains Paper 2: IR | Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora.

From UPSC perspective, the following things are important:

Prelims level: Organisers of the summit

Mains level: These kind of statements by the Prime Minister are important from the UPSC perspective. These statements show government’s priorities.


News

Statement by the Prime Minister

  1. The has said that the government was on a drive to improve the investment climate in the country
  2. And to create a globally competitive industry through deregulation and minimal state role, while enhancing the ease of living of people

Occasion: India-Korea business summit

  1. It was jointly organized by the department of industrial policy and promotion and industry chamber Confederation of Indian Industry (CII)
  2. He also said India is now a “free destination for enterprise” and “a free and growing market that cannot be found anywhere else”
  3. Assuring Korean business leaders, the Prime Minister said the government is continuously working towards improving the business climate

Trade between India and Korea

  1. In 2016-17, bilateral trade between India and South Korea touched $16.8 billion, a growth of 1.6% from a year ago, according to data available from the commerce ministry
  2. India’s imports from South Korea stood at $12.5 billion in 2016-17, about three times its exports to that nation in that year of $4.2 billion, commerce ministry data showed
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