Prime Minister Narendra Modi has said that India has emerged as a land of opportunities. Addressing India Korea business Symposium in Seoul today, he said that in last four years India has jumped 65 places in World Bank’s Ease of Doing Business ranking and has reached to 77th position. Highlighting the investment-friendly ecosystem in India, he said that Foreign Direct Investment in more than 90 percent sectors is now on automatic route for approval and FDI worth over 250 billion dollars have been received in last four years.
Prime Minister said that South Korea is a truly natural partner of India and business relations between the two countries have come a long way. He said that the negotiations to upgrade the Comprehensive Economic Partnership Agreement have been fast-tracked to achieve the bilateral trade target of 50 billion Dollars by 2030 from the present level of 21.5 billion dollars.
He added that over 600 Korean companies have invested in India and their total investments into India have reached a cumulative figure of almost 6 billion Dollars. Prime Minister said that there is a huge demand in India in Transport, Power, Ports and Urban Infrastructure sectors and urged Korean businessmen to invest in these sectors and use their strong technological capabilities and capacities.