PM Modi :India is a Open Economy

New Delhi Feb 27: Prime Minister Narendra Modi on Tuesday has addressed the India-Korea Business Summit and has explained the various opportunities that exist in India.

PM has said that "India is one of the most open economies in the world and is ready to do business with the world.We seek positivity in day-to-day transactions. We are widening areas of trust rather than digging into doubts. This represents a complete change of the government's mindset."

He added that "India is already the third-largest economy in terms of purchasing power. Very soon, we will become the world's fifth-largest economy by nominal GDP. We are also the fastest-growing major economy of the world today.We are also a country with the one of the largest start-up eco-system.The government is on a de-regulation and de-licensing drive."

Finally, he added that "If you see around the globe, there are very few countries where you have three important factors of the economy together. They are democracy, demography, and demand. In India, we have all the three together."