Tuesday, September 17th, 2013
The respective economic successes of India and South Korea have emerged from various strategies by concentrating on how to improve economic status internally while connecting with foreign countries. More specifically, India, similarly with other countries, has its own distinct economic strategies, one of which is the Look East Policy, or LEP. In the upcoming years, it’s believed that India will continue in aiding its economy with this policy.
Look East Policy – a background
The underpinnings of this policy are about changing perspectives when it comes to viewing the world. As influenced by Western colonists, the mindset of India of the past focused more on Western countries in terms of bridging business connections. Through the Look East policy, however, the country’s view on partnerships was diverted to concentrating on countries in the eastern part of the world. Prime Minister P.V. Narasiha Rao was the initial active person behind this policy. He believed that reaching the top of the global business industry is attainable by tying up with countries from Southeast Asia, which in this case is the eastern region the policy targets.