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.
Statement by the Prime Minister
- The has said that the government was on a drive to improve the investment climate in the country
- 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
- It was jointly organized by the department of industrial policy and promotion and industry chamber Confederation of Indian Industry (CII)
- He also said India is now a “free destination for enterprise” and “a free and growing market that cannot be found anywhere else”
- Assuring Korean business leaders, the Prime Minister said the government is continuously working towards improving the business climate
Trade between India and Korea
- 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
- 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