Korean firms invited to invest in SEZs

The government yesterday said that it had invited Korean businessmen to explore investment opportunities in the special economic zones (SEZs).

"The Korean businessmen were unaware of the investment opportunities available in the Indian SEZs and they are finding the proposal very attractive.

We also informed them of the SEZ bill, which is likely to be introduced in the next Parliamentary session and will allow more foreign direct investment," Union Trade and Commerce Minister, Kamal Nath, said after a lunch meeting with the Korean minister of Commerce, Industry and Trade, Hee-Beom Lee and other business heads.

The minister also said that he would would try to address the difficulties being faced by Korean businessmen operating in India. "I have heard about the difficulties being faced by the Korean businessmen in India. We will try to find a solution to their problems," Nath said.

He said that the government was taking steps to ensure that trade and investment between Korea and India made a quantum jump and said that many Korean companies had expressed keenness to invest in India.

The Koreans had shown great interest in investing in the fields of petroleum, heavy engineering, consumer goods and textiles in india, the minister said.