Business

A delegation of Telangana Government led by Minister for IT, KT Rama Rao, including Jayesh Ranjan, IT Secretary, and other senior officers of the department called upon the Ambassador of Republic of Korea, His Excellency Mr. Joon-gyu Lee, in New Delhi, on April 23 2015. The Ambassador was briefed about the new State of Telangana, its socio-economic features, and the opportunities offered for industrial investments.

The Ambassador remarked that some of the features of Telangana’s policies appear very unique and innovative.  He assured that he will refer Korean companies interested in doing business in India to Telangana.  He also advised that Telangana should focus on creating congenial atmosphere for small and medium sized Korean companies.

Later, the delegation from Telangana conducted an interactive meeting with representatives of Korean Chamber of Commerce (KOCHAM), Korean Trade Promotion Agency (KOTRA), Korean International Trade Association (KITA).  Representatives of half dozen Korean companies also participated in this meeting.  Minister explained about the advantages of Telangana State in terms of investment opportunities.  He spoke about the revolutionary act introduced in the State that gives time bound approvals as a Right to the investors besides the availability of abundant government lands, high quality infrastructure, and a large pool of talented manpower.

Many Korean companies are looking forward to expanding their presence in India and are in search of suitable locations having high ease of doing business and proactive government policies towards the industry.  These companies responded positively to the offer made by the Minister to consider Telangana as their preferred investment destination. 

As a follow up it has been agreed that the company representatives will visit Hyderabad to evaluate investment opportunities in detail and submit their proposal over a period of time.  Further, Hyderabad will host a Korea-Telangana Day in August/September where various aspects of the State will be showcased.  The possibility of developing an industrial park exclusively for Korean companies was also discussed.