Seoul [South Korea], March 5, 2024 (Punjab Khabarnama): Highlighting India’s robust manufacturing and technology development, External Affairs Minister S Jaishankar said that the growing efficiencies of the country are on offer as an attraction to Korean businesses.
He also emphasized the growing responsibility of New Delhi and Seoul towards reshaping the global order, adding that the partnership between the two countries can emerge significant factor in the Indo-Pacific region.
The EAM was speaking at an event titled ‘Broadening Horizons: India-Korea Partnership in the Indo-Pacific’ in South Korea.
Addressing the event, Jaishankar said, “For a variety of reasons, we in India, did not give the importance that we should have to manufacturing and technology development in the past. That started to change in 2014 with the Modi Government and has gathered steam over a decade. It is supported by vast improvements in infrastructure, innovation, education, and skilling.”
“This has now enabled us to embark on a ‘Make in India’ initiative in various domains. Such collaborations would not only facilitate our partners’ access to the Indian market but also use us as a platform for global production,” he added.
Taking to social media platform X, Jaishankar wrote about the event and affirmed confidence that by broadening horizons, the India-South Korea partnership can emerge as a significant factor in the Indo-Pacific and beyond.
Jaishankar further highlighted India’s strong recovery from the COVID-19 pandemic and the growth of start-up cultures and unicorns in the country, adding that New Delhi is poised to become the third-largest economy in the world.
“The growing efficiencies of India are on offer as an attraction to Korean businesses. This is certainly worth consideration if you look at the growth prospects of India. We have rebounded robustly from the COVID period and are on track to become the third-largest economy in the next few years. Along with that, if you look at the innovations underway, the start-up culture and the number of unicorns, there is a strong case here for greater focus and attention,” he said.
Emphasizing the growing responsibility of India and South Korea in the global order, he said that the era when a few powers exercised “disproportionate influence” over that process is now over.
“As two significant G20 members, India and RoK have a growing responsibility to actively contribute to the reshaping of the global order. The era when a few powers exercised disproportionate influence over that process is now behind us. It has become a more collaborative and broad-based endeavour. That multilateralism has also stalled and being replaced in good measure by pluri-lateralism is a factor as well,” Jaishankar said.
The EAM also pointed out the challenges in the direction of further growing the ties and said that the two countries need to have more political discussions, strategic conversations, and business and technology interactions.
“To realize our potential, a challenge that I have flagged already, it is important that we intensify our engagement in different spheres. Certainly, we need more political discussions, and more strategic conversations: which is why I am here. We need stronger business connections and technology interaction. I am confident that by broadening our horizons, the India-RoK partnership can emerge as a significant factor in the Indo-Pacific,” Jaishankar added.
He said that India’s partnership with South Korea is acquiring “great salience” in a “more uncertain and volatile world”, adding that it is time for the two nations to introspect and strategize how the two countries could be doing more by making efforts differently.
