Terrorism, climate change are two big challenges humanity faces in these times: PM Modi at Seoul's Yonsei University

Prime Minister Narendra Modi on Thursday said terrorism and climate change are two biggest challenges mankind is facing now and Mahatma Gandhi's teachings can help the world to address the pressing issues.

Prime Minister Modi, who arrived on a two-day visit to strengthen India's strategic ties with South Korea, along with South Korean President Moon Jae-in and former UN Secretary-General Ban Ki-moon unveiled a bust of Mahatma Gandhi at the prestigious Yonsei University.

"It is a matter of great honour and my good fortune to unveil the bust of Mahatma Gandhi in Korea's premier university today," PM Modi said. "This occasion assumes greater significance since we are celebrating the 150th anniversary of Gandhi and for the world he is the foremost messiah," he said. "Terrorism and climate change are two biggest challenges mankind is facing now," he said and underlined that Mahatma Gandhi's teachings can help the world address the pressing issues.

PM Modi is visiting South Korea on the invitation of President Moon Jae-in. This is his second visit to the Republic of Korea since 2015 and second summit meeting with President Moon Jae-in. 

Earlier today, PM Modi said fundamentals of the Indian economy are sound and it is on the way to becoming a USD 5 trillion economy soon. Addressing the India Korea Business Symposium, he said India is now a more open economy and has attracted USD 250 billion foreign direct investment (FDI) in the last four years. He said no other large economy in the world has grown at 7 per cent year after year.

India, he said, has jumped to 77th spot on the World Bank's ease of doing business ranking on the back of reforms and is determined to break into the top 50 next year. The role of the government is to provide a support system, PM Modi said, adding that India has emerged as a land of opportunities. 

Prime Minister Narendra Modi arrived in South Korea for his two-day visit. The two countries will seek to enhance cooperation in diverse areas, including trade and investment. He will also participate in various programmes during the visit, aimed at boosting New Delhi’s trade and cultural ties with Seoul. This is Modi's second visit to the Republic of Korea and a second summit meeting with President Moon Jae-in. Ahead of his visit, the Prime Minister had described South Korea as an important partner for India's key initiatives such as 'Make in India', and said as fellow democracies the two nations share values and vision for regional and global peace.

Here are the highlights of the PM Narendra Modi's speech: