A delegation led by Minister for Information Technology K.T. Rama Rao called on the Ambassador of Republic of Korea to India Joon-gyu Lee and representatives of Korean trade and industry bodies in New Delhi on Thursday and invited them to explore investment possibilities in Telangana.
The Minister accompanied by IT Secretary Jayesh Ranjan and other senior officials briefed Mr. Lee about the new State of Telangana, its socio-economic features and the investment opportunities available.
Mr. Lee noted that some of the features of Telangana’s policies appear unique and innovative. He assured that he would refer Korean companies interested in doing business in India to Telangana and advised the delegation to focus on creating congenial atmosphere for small and medium sized Korean companies.
Later, the Telangana delegation had an interactive meeting with representatives of Korean Chamber of Commerce (KOCHAM), Korean Trade Promotion Agency (KOTRA) and Korean International Trade Association (KITA). Representatives of half-a-dozen Korean companies also participated in the meeting.
Mr. Rama Rao explained to the representatives of Korean trade and industry bodies about the advantages of investing in Telangana State. He specifically mentioned the new industrial policy unveiled by the State recently that would ensure time-bound approvals as a right to investors, besides the availability of abundant government land, high quality infrastructure and a large pool of talented manpower.
After the meeting, the Minister said that several Korean companies were looking forward to expand their presence in India.
They were in search of suitable places having ease of doing business and proactive government policies towards the industry.
The Minister claimed that the companies responded positively to the offer made by the State government delegation to consider Telangana as their preferred investment destination.
As a follow-up, it was agreed that the representatives would visit Hyderabad to evaluate investment opportunities in detail.
Source: The Hindu