The Embassy of India in Korea held the 2018 India Infrastructure Seminar at the Korea Chamber of Commerce and Industry in Seoul on October 17th and at Lotte Hotel Busan on October 18th respectively. The event sees the Moon Administration’s New Southern Policy, Korea’s $10 billion dollar investment in India, and Korea’s export-led economic structure as an opportunity to connect it to the ongoing large projects in India such as Delhi-Mumbai Industry, Freight Railway, Sagarmala, NTPC and railway modernization projects.
The event also presented other projects relating to Sovereign Wealth Fund, Dolera Special Investment Zone and Aurangabad alonside the aforementioned projects.
As for the Korean side, the 2018 India Infrastructure Seminar is a good opportunity to pave a way for new market over China and Vietnam where Korean businesses hugely depend on. Also, the Indian Minister for Road Transport & Highways Nitin Gadkari’s recent visit to Korea is expected to create synergy effect on river development and regeneration.
Considering the fruitful results of Moon’s visit to Indian and participation in the groundbreaking ceremony of Samsung factory in the local also is expected to increase Korean business’ interest in Indian market. A report shows that the Korean companies’ frequency of the visit to Indian in seeking of new business opportunities have been increasing for the last several years thanks to India’s MAKE IN INDIA policy. MAKE IN INDIA is a policy introduced by the Indian government in 2014 to encourage global companies to manufacture their products in India.
The 2018 India Infrastructure Seminar was hosted by Indian Embassy in Korea, Korea Chamber of Commerce and Industry Seoul and Busan, and sponsored by Korea Plus.
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