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Finance Minister Nirmala Sitharaman held a bilateral meeting with Asian Development Bank President Masatsugu Asakawa on the sidelines of the ADB Annual Meetings, in Incheon, South Korea, on Tuesday.
During the meeting, Sitharaman also highlighted India’s enabling policy framework for e-vehicles and green hydrogen sectors to further attract investment in India with the participation of the Korean government.
Finance Minister Nirmala Sitharaman on Thursday highlighted greater opportunities in India for investment in manufacturing, food processing and marine resources in a bilateral meeting with her South Korean counterpart.
The minister met Cho Kyung Ho, Vice Prime Minister and Minister of Economy and Finance of South Korea, on the sidelines of the 56th Annual Meeting of the Asian Development Bank here, and also invited the Korea Investment Corporation (KIC) and other investors to come forward with investment in India’s infrastructure sector. .
During the meeting, Sitharaman also highlighted India’s enabling policy framework for e-vehicles and green hydrogen sectors to further attract investment in India with the participation of the Korean government.
“FM Smt. @nsitharaman emphasized the biggest opportunities in India for investments in #manufacturing, #renewable energy, #infrastructure, #pharmaceuticals, #food processing, including #marine resources, among other sectors.”
Sitharaman also informed her Korean counterpart about the value-adding investment opportunities in India’s seafood sector and about the newly identified projects under the EDCF (Economic Development Cooperation Fund) Framework Agreement and hoped for their faster implementation.
She said India is looking forward to more committed bilateral relations between the two countries and more ways to further deepen investment cooperation.
“Cho Kyung Ho said that the two countries should continue to expand cooperation and participation, and he hopes that Korea will have the opportunity to participate in investment fields in India,” the Finance Ministry wrote on Twitter.
During the meeting, Sitharaman noted that the recently signed EDFC Loan Agreement for the “ITS Construction of Nagpur-Mumbai Expressway Communications Expressway” project will open a gateway for other development projects in India.
Referring to the Nagpur project, Mr. Choo Kyung-ho informed FM Smt. @nsitharaman that Korean investment in the project currently stands at 215 billion won (approximately Rs. 1,495.68 crores), the ministry said in a tweet. PTI DP JD Correspondent for PTI is in South Korea at the invitation of the Asian Development Bank.
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(This story has not been edited by News18 staff and is republished from a syndicated news agency feed.)
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