You are here: Home » PTI Stories » National » News
Business Standard

6 Working Groups formed to enhance trade, investments between India, Korea

Topics
Business Finance

Press Trust of India  |  New Delhi 

The India-Korea CEOs Forum held its second meeting here today, with business leaders from both the nations developing an ambitious agenda to enhance bilateral trade and investment.

"The CEOs announced the formation of 6 working groups in sectors like Auto, Infrastructure, Services, Electronics (including renewable and allied sector) & IT and Start ups and Innovation Ecosystem (including MSMEs & SMEs) and Defense Manufacturing," industry body Ficci said in a statement.

The CEOs deliberated upon the progress on major recommendation from the first meeting in the field of energy, including renewable energy technologies, nuclear power and LNG ship building, by way of joint developments, technology transfer and enhanced bilateral trade with a view to benefit from technological and business expertise of Korean enterprises in developing quality infrastructure in India.

The first India-Korea CEOs Forum was held in Seoul, South Korea on May 19, 2015.

Given the impetus on manufacturing with Make in India' initiative and Korea's manufacturing strengths, the CEOs recommended greater co-operation between the Korean and Indian enterprises.

The CEOs from both the sides highlighted some of the recent developments in Korean investments in India and welcomed the establishment of Kia's first manufacturing plant in Andhra Pradesh and Samsung's new manufacturing unit in Noida, Uttar Pradesh that was inaugurated by South Korean President Moon Jae-in.

In the renewable energy sector, especially solar energy, the CEOs recommended collaboration between the Indian and Korean companies to set up manufacturing facilities in India and also committed to promote and work towards joint projects in the areas of new technologies such as artificial intelligence, internet of things, future manufacturing, robotics and green tech.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, July 10 2018. 20:30 IST
RECOMMENDED FOR YOU