In order to expand the business ties between India and Korea, the Confederation of Indian Industry (CII), in association with Chosun llbo, the largest media business group in Korea, with active involvement of the Korean Industry and the Government of Korea organised the first ever mega India Korea Business Summit with an objective to create a framework for an open and action-oriented dialogue between top business leaders and Government leaders from both the countries.
Mr Shreekant Somany, Chairman, CII Northern Region & Chairman & Managing Director, Somany Ceramics Ltd informed the Korean delegation about India’s commitment to grow in an inclusive, responsible and sustainable manner by generating livelihood opportunities in rural as well as urban areas. Highlighting the India Prime Minister’s vision to render Indian manufacturing sector globally competitive through the Make in India mission, he identified Korea as a natural partner in this drive. He added that when an investor looks for investment opportunity, the focus is towards ease of doing business, regulations & policies of the state government, infrastructure – both physical & industrial, availability of skilled manpower, excellent communication network, nearness to the market and market for the products; and Haryana outshines in all these.
“Extensive opportunities exist for India-Korea collaboration in a wide array of sectors, whether it is through enhancing trade flows, making investments, engaging in joint research partnerships, starting green-field or establishing joint ventures,” he added.
India and Korea are the third and fourth largest economies in Asia. The Comprehensive Economic Cooperation Agreement (CEPA) signed between the two countries provides an excellent platform for expanding the bilateral trade, and also give great impetus for flow of investment both ways. Exuding confidence about the growing ties of his country with India, Mr KWON Young-Jin, Mayor of Daegu Metropolitan City Government, Republic of Korea, said that “Korea’s partnership with India is a unique opportunity for our countries to demonstrate our world class collaboration in innovation and entrepreneurship. The momentum created by mutual visits of Prime Minister Narendra Modi and President Park Geun-Hye is now accelerating with commitments from both countries to build a lasting economic relationship.”
Shri Manohar Lal, Chief Minister, Government of Haryana said that, “India-Korea Business Summit aims to create the framework for an open and action-oriented dialogue between top business leaders and government leaders from both countries. Referring to the new Enterprises Promotion Policy 2015, he shared that transparent policies, investment in developing infrastructure, technology advancement and good governance has played a significant role in achieving an inclusive and sustainable growth. He stressed upon the fact that Haryana offers a fertile ground for investment and is all set to enter higher growth orbit. Quoting Hon’ble Prime Minister’s Modi’s Make in India Campaign; Shri Manohar Lal shared his vision to exhort investors from all across the globe to invest in India.
The summit was graced by both Indian and Korean Government officials as well as business leaders from a diverse range of