Seoul (web team): Wooing Korean investors, Prime Minister Narendra Modi on Tuesday promised to give "personal attention" to making conditions "more conducive" for them to do business in India and and said his government was working aggressively to make India a very easy place to do business.
Promising CEOs in Seoul a more stable, predictable and transparent taxation system, he outlined the steps taken by his government, which include fast tracking of approvals in industry and infrastructure, and liberalisation of FDI.
"I invite you to India to see the change. We are also prepared to work with you in making conditions more conducive for you," he said addressing the first meeting of the newly set up India-South Korea CEOs Forum.
Describing India as a "land of potentials", he said, "India is also a land of enabling policy environment.
14:30 IST Tuesday, 19 May 2015
"Shipbuilding is a top priority for us." PM Modi tells Kil Seon Choi, Chairman of Hyundai Heavy Industries
Prime Minister Narendra Modi visited Hyundai Heavy Industries to seek increased partnership between Indian shipyards and the South Korean giant to ensure that India's shipbuilding industry can benefit from its expertise and experience.
The Prime Minister, who spent about an hour, discussed various ways to expand cooperation in naval defence, LNG carrier construction and shipbuilding technology. "Shipbuilding is a top priority for us," Modi told Choi.
Modi showed particular interest in HHI's technological prowess in building a wide range of naval vessels as well as high-value added vessels such as LNG carriers.
11:30 IST Tuesday, 19 May2015
PM Modi departs for engagements in Ulsan, Gimhae
Prime Minister Narendra Modi on Tuesday left for Gimhae International Airport, from where he will leave for Ulsan to see the Hyundai Heavy Industries Shipyard.
Later, the Prime Minister will have a brief interaction with the mayors of Busan and Pohang in Gimhae.
10:40 IST Tuesday, 19 May 2015
"I feel proud to meet all of you". PM Modi to Friends of India in the Republic of Korea
Also read: PM Modi in Korea: 'Working aggressively to make India easy for business'
8:41 IST Tuesday, 19 May 2015
List of Korean members of India - ROK CEO's Forum
Prime Minister Narendra Modi met the CEOs of some of the top South Korean companies at the Korea-India CEO Forum here, holding a one-on-one session with each one of them.
Some of the CEOs present were Samsung Electronics president Park Sangjin; LG Electronics president Kim Jin-hong; Hyundai Motor Company president Chung Jinhaeng; Hyundai Heavy Industries CEO Choi Gil-sun; Shinhan Bank president Cho Yong-byong; Lotte CEO Kim Yong-su and Korean Air Lines Co. Ltd. president and COO Chi Chang-hoon, among others.
Also read: If Asia must rise as one, Asia should no longer think of itself in regional fragments: PM Modi in Seoul
8:39 IST Tuesday, 19 May 2015
President Park and PM Modi attend First India-ROK CEO's Forum
- India was, and is a land of potential
- Our hardware and our software, your car making skills and our design abilities, your steel making skills and our resources of iron ore, Your ship building capability and our Port led development, your expertise in infra and housing and India's needs can create win win partnership
- Korea ranks only 14th in FDI flows into India. So potential for bilateral cooperation is vast
- I have always been fascinated by Korea. How are country of the size of Gujarat can achieve so much progress
- President Park: Modinomics and Korea's 3.0 economic plan can combine to become central drivers for lifting the global economy.
- President Park proposes strengthened co-operation between India and Korea in manufacturing, creative economy and new energy industries