Modinomics, Korea’s 3.0 economic plans set to tango

Modinomics and Korea 3.0 economic plans are set to tango in days to come. Banking on India’s Prime Minister Narendra Modi’s “Make in India” campaign and its recent growth stories, South Korea’s President Park Geun-hye underlined the need to bolster cooperation between Indian and South Korean manufacturing companies and new energy industries.

The economic agenda dominated Prime Minister Narendra Modi’s maiden trip to Seoul this week. The visit saw Seoul pledging $10 billion for India’s infrastructure sector.

Mr Modi and Ms Park addressed the India-ROK CEO Forum on May 18 and unveiled a plan for pitching economic relations onto a higher trajectory.

Pitching for closer economic collaboration, Mr Modi stressed on commonalities between India and Korea and invoked the popularity of Bollywood films to intensify a growing partnership.

Taking an overarching view, the Indian leader underlined that there shouldn’t be any rivalries among the Asian countrie.”Asia of rivalries will hold us back. Asia of unity will shape the world,” said the prime minister.

He asserted that the Asian countries should work together to secure peace and stability in the continent. If they worked as one, Asia could take the responsibility of the whole world.

Asia has been on rise in the last few decades with China and India leading from the front. Other major countries like Japan and South Korea have maintained their success stories.