Create a win-win situation for co-prosperity

To commemorate common anniversaries of Independence Day in India and South Korea on August 15 with motivation and enthusiasm for coexistence, let us resolve to cooperate and coordinate on mutually beneficial economic and non-economic relations. Today, non-economic relations are more important than economic relations.

We need to identify the strengths and opportunities for the knowledge economy in India and its potential in the future. At the same time, we should continue to concentrate on controlling weaknesses and threats on a daily basis.

With wisdom of professionals, Korea and India both possess the potential to be moderators and coordinators between the developed and underdeveloped economies, which calls for strategic partnership.

Since 2011, “the year of Korea” in India and “the year of India” in Korea have strengthened our ties to build bridges of friendship. I am extremely happy that our leaders have recognized the need to strengthen economic relations between India and Korea. To grow together, there are untapped opportunities of trade and services from India to Korea that need to be identified and explored in order to strengthen economic ties.

To make the recent measures for foreign direct investment sufficient, the implementation of 12 procedures involved therein calls for zero tolerance on unnecessary delays by the officials in charge. Let the responsibility be fixed for the delays on individuals who need change in their mindset.

We can certainly create a win-win situation by joining hands with mutual trust and confidence at all times in the future. Let us exchange experts and technical skills of hardware and software to grow together with diplomatic honesty in practice. Let us understand things better and increase our knowledge in new areas of cooperation to coexistence.

by M. M. Goel, Professor of economics and dean, faculty of social sciences, Kurukshetra University, India