Korean companies are keen to invest in Maharashtra and can join hands with the state to set up international hubs with 10 smart cities and 100 smart villages, state Industries Minister Subhash Desai said here.
"The state has attracted 50 per cent of the total Foreign Direct Investment (FDI) coming to India in the last six months. With the growing strength of Maharashtra's industrial development, Korea is keen to invest and partner the state in terms of exchange of ideas and technologies," Desai said.
He was speaking after inaugurating the two-day Korean Expo 2016 here today organised by Korea Trade Investment Promotion Agency (KOTRA), in association with FICCI.
"There are several emerging opportunities, such as the development of Aurangabad in the Mumbai-Delhi corridor and the new international airport therein; industrial parks in Khed, Nagpur and Chakan. Korea can partner Maharashtra to create international hubs with 10 smart cities and 100 smart villages," he added.
"We are also exploring partnerships with Korea to create small business centres and startup hubs in Maharashtra. We are exploring sustainable business initiative partnerships, including the use of tidal power and renewable energy projects," Desai said.
Kim Doo Young, Vice-President, KOTRA, said, "India and Korea are among the top four economies in Asia and they have a long history of collaboration. PM Narendra Modi's 'Make in India' mantra has become familiar terminology amongst world economists. The new driving force for Korean exports comprises beauty, wellness, fashion, health and household products and brands. Korean Expo is a wonderful opportunity to showcase Korea's consumer brands along with industrial acumen."
Hosted by Korea's Ministry of Trade, Industry & Energy, Korean Expo is a consumer and trade focused exhibition featuring 1,000 plus premium products from 100 plus exhibitors showcasing household goods, beauty and fashion products; electronic items; wellness and medical products; industry material and machine equipment among others.
More than 10,000 visitors from India, including hundreds of overseas buyers from Middle East, Russia, Egypt, Kazakhstan, Bangladesh, Sri Lanka and South-west Asia are expected to visit the show.
"Korean Expo 2016 is bigger than ever before, after India's Commerce Minister launched Korea Plus, a platform for promoting and facilitating South Korean investments in India following the review of the free trade agreement called Comprehensive Economic Partnership Agreement (CEPA) between India and South Korea in mid 2016," KOTRA Director General Dongwon Lee said.
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