By Jeong Jae-hong, Joong Ang Ilbo 

President Park visits India today

Interview with Indian Ambassador to Korea

Samsung sells 3 million mobile phones per month

Bilateral trade grew by 70% in 2 years 

“Today, India is the third largest economy in Asia and will be the third largest in the World by 2030”. 

Indian Ambassador Vishnu Prakash said, “We have a more than 200 million strong middle class with excellent purchasing power, which will grow to 600 million by 2030, to become the world’s largest”. He added, “ the young and educated population fuels the nation’s huge demand in every sector, including consumer electronics, communications, infrastructure, shipping and so forth”. According to the Centre for Economic and Business Research UK, the Indian economy, now the 11^th largest in the world, will leap into 3^rd largest economy followed by Japan by 2028. 

The interview with Indian Ambassador took place on 10^th January at the Indian Embassy in Hannam-dong Seoul, just days ahead of President Park Geun-hye’s visit to India. The choice of India as the destination for President’s first international trip in 2014 is due to Korea highly valuing India’s potential. 

Q: Tell us about the status as per Korea-India economic cooperation. 

A: Annually we are investing $ 200 billion in infrastructure development projects – on roads, airports, energy, etc. In India, Samsung sells 3 million mobile phones per month and Hyundai is producing 650,000 automobiles every year. Doosan is building (or bidding for)10,000 MW of power plants and POSCO is building a steel plant in India with investment of $ 12 billion. In the IT sector, India and Korea complement each other as Korea has competitive edge in hardware and India is strong in software. I hope more Korean companies tap into the huge potential of the Indian market. 

Q: Were there any outcomes of CEPA between the two countries? 

A: After the implementation of CEPA in January 2010, the trade between India and Korea increased by 70% in two years (from $ 12.1 billion in 2009 to $ 20.5 billion in 2011). The bilateral trade will grow even further as we are discussing ways and means of boosting it, especially during the important visit of President Park. We expect the bilateral trade volume will increase two-fold from 2011 to reach $40 billion in 2015. 

Q: How do you support the peace in the Korean peninsula? 

A: India, a strategic partner of the Republic of Korea, supports the peaceful reunification of the Korean peninsula. We have publically stated that development of nuclear arms by North Korea is unacceptable and the Korean peninsula must be nuclear-free. India condemned the Cheonan incident and attack on the Yeonpyeong Island. We have been calling upon Pyongyang to refrain from acts that adversely impact peace and stability in the region. 

Q: How is the security cooperation going on between the two countries? 

A: DAPA in Korea and DRDO in India have had three rounds of talks on joint production and development of defence equipment. India and Korea have a similar outlook on terrorism, piracy, disaster relief and UN PKO etc. 

Q: Is the rise of China threat to Asia? 

A: The rise of China is a reality which the global community has to recognize. Whether China will be a threat to the world or not, is entirely dependent on how China chooses to act. India’s Prime Minister Dr. Manmohan Singh has said more than once that “The World is big enough to accommodate the aspirations and rise of both India and China”, and I completely agree with that. India and China are no rivals. We do have difference of opinion on some issues, but also have the ability to overcome it. 

Q: How should Korea respond to the challenges that it faces now, including provocation of North Korea? 

A: Korea’s development has been remarkable, with its per capita GDP growing from $ 85 in 1962 to $ 23,679 in 2012. That is attributable to the determination of the Korean people and the wisdom of the Korean leadership. I not only have great admiration for the Korean people, but am also confident that Korea will overcome any and every obstacle with its wisdom and determination. 

Q: The issue of the Indian diplomat in the U.S. is affecting the India-U.S. ties. 

A: The U.S. is India’s largest trade partner. There are 3 million Indian nationals living in America and 100,000 Indian students studying in the country. The U.S. is one of the most important partners for India in every area including political, economic, societal and cultural. We have been working hard to strengthen our close ties with the U.S. The issue of the Indian diplomat in USA, is unfortunate and should not have happened. However, just as the best of friends cannot have 100% identical views, India and the U.S. too have some difference in opinion. I believe the governments of the two countries have the wisdom to resolve the issue.