India, South Korea to discuss strengthening the FTA
The Dollar Business Bureau India and South Korea will have a discussion on Saturday to assess their free trade agreement (FTA) in order to strengthen it. In January 2010, the two countries had implemented the CEPA (Comprehensive Economic Partnership Agreement) and relaxed the trade regulations for one another. The Commerce Minister Nirmala Sitharaman, while speaking at an event jointly organised by Korea Trade-Investment Promotion Agency (KOTRA) and FICCI, said the two nations should take every step for further strengthening the CEPA and will discuss several aspects of the agreement. “We hope to do an intensive exercise so that it can be concluded in favour of both the countries. It will require quite a few assessments of the benefits derived from both the countries ...
Telangana ready to offer land cluster to Korean cos
Sharath Chowdary The Telangana government is ready to offer land parcels for various Korean companies to set up their base in the state. The government will work on creating an investment cluster to cater to the basic needs of Korean companies investing in the state, Telangana Industries Principal Secretary Arvind Kumar told The Dollar Business. He was speaking to the media while taking part in the Korean Caravan 2016 in Hyderabad on Wednesday. The Caravan was organised by the Confederation of Indian Industry (CII) in association with the Embassy of the Republic of Korea. Arvind Kumar said, “Last month, Telangana Chief Secretary Rajeev Sharma had proposed to develop an exclusive industrial park for Korean companies, during a meeting with the Union government in New ...
India invites Korean companies to Make in India
Sachin Manawaria | The Dollar Business The Indian government has invited companies in South Korea to invest and begin manufacturing in India under the Prime Minister Narendra Modi’s “Make in India” initiative. Bilateral trade between India and South Korea has grown significantly in recent years, growing from around $12 billion in FY2009-10 to about $16.7 billion in FY2013-14, registering a growth of almost 40%. However, India’s trade deficit with South Korea has also surged from around $5.1 billion to around $8.3 billion, which is up around 62% in the same period. Most of India’s imports from South Korea include chemicals, plastics, industrial products, iron and steel, ships and floating structures. India is keen to get South Korean companies ...
