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KOTRA and Mahindra Group Hold Investment Promotion Forum in Mumbai, India

- KOTRA gives presentation on the Korean investment environment and provides individual consulting. Indian investors share about their investment experiences in Korea.
- KOTRA agrees to continue cooperating with Indian investors in the long-term.

Invest Korea, the investment promotion arm of the Korea Trade-Investment Promotion Agency (KOTRA), held the India Invest Korea Forum on August 18 in Mumbai, India. The forum was co-hosted by KOTRA and Mahindra Group, an Indian multinational automobile manufacturing corporation. About 20 companies and organizations participated, including Aditya Birla Group, Essar Group, Videocon and the Automotive Component Manufacturers Association of India.

Indian companies are proactively entering overseas markets to find strong business environments and expand their business scope. However, India has mainly invested in advanced countries and its investment in Korea has been small compared to Korea’s economic scope. Korea must establish a strong foundation for the development of long-term economic exchanges and seek more investment from developing countries, such as India.

The India Invest Korea Forum served as an opportunity to promote bilateral exchange between Korea and India. The consulate general of the Republic of Korea in Mumbai suggested a future policy direction for investment, Indian investors shared about their investment experiences in Korea and KOTRA introduced the investment environment of Korea for foreign companies and provided one-on-one investment consulting. Anand Mahindra, Chairman of Mahindra Group, and Sachin Satpute, Chief Marketing Officer of Aditya Birla Group, both appointed goodwill ambassadors of Korean investment in India in 2011, shared about their investment experiences in Korea with potential Indian investors.

“We would like to expand business cooperation with Korea by making the best use of Korea’s skilled engineering resources. The forum has enabled us to better understand the Korean investment environment and we hope to closely cooperate with Korea in the near future,” said K.K. Mehta, Director of IT Laddu Engineering Services.

“India, with its rapid economic development, is an important strategic country and home to various global companies. Therefore, we will not be complacent with short-term achievements but continue cooperating with Indian investors in the long-term,” said Kiwon Han, the Head of Invest Korea.

India’s Mahindra Group, founded in 1945, is one of the seven conglomerates of India. The Group has businesses in the automobile and tractor manufacturing, IT services, real estate and resort development, finance and insurance and retail industries. Mahindra Group invested USD 71 million in Korea in 2013 and acquired a 72.85 percent share of Korea’s Ssangyong Motor. The Group plans to invest about USD 9 million in Ssangyong Motor by 2017. The Group is engaged in various activities to expand cooperation with Korean companies, including the holding of Korean Autoparts Plaza, seeking investment and participating in M&A and marketing projects.

Resource : Invest KOREA (August.19. 2014)
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