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

Press Trust of India  |  New Delhi 

The India-CEOs Forum held its second meeting here today, with 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 technologies, nuclear power and LNG ship building, by way of joint developments, and enhanced bilateral trade with a view to benefit from technological and expertise of Korean enterprises in developing quality infrastructure in

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

Given the impetus on with Make in India' initiative and Korea's 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 and welcomed the establishment of Kia's first plant in and Samsung's new manufacturing unit in Noida, that was inaugurated by South Korean Moon Jae-in.

In the renewable sector, especially solar energy, the CEOs recommended collaboration between the Indian and Korean companies to set up manufacturing facilities in 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.)

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