Finance Minister Nirmala Sitharaman had a bilateral assembly with ADB President Masatsugu Asakawa on the sidelines of the ADB Annual Meetings, at Incheon, South Korea, on Tuesday.
During the assembly, Sitharaman additionally highlighted India’s enabling coverage framework for e-vehicles and inexperienced hydrogen sectors for additional attracting funding in India with the engagement of the Korean authorities
Finance minister Nirmala Sitharaman on Thursday highlighted larger alternatives in India for funding in manufacturing, meals processing and marine assets in a bilateral assembly with her South Korean counterpart.
The minister met Choo Kyung-ho, Deputy PM & Minister of Economy and Finance, South Korea, on the sidelines of 56th ADB Annual Meeting right here, and in addition invited Korea Investment Corporation (KIC) and different traders to take ahead funding in India’s infrastructure sector.
During the assembly, Sitharaman additionally highlighted India’s enabling coverage framework for e-vehicles and inexperienced hydrogen sectors for additional attracting funding in India with the engagement of the Korean authorities.
“FM Smt. @nsitharaman emphasised on larger alternatives in India for #investments in #manufacturing, #RenewableEnergy, #infrastructure, #prescribed drugs, #FoodProcessing, together with #marine assets, amongst different sectors,” a finance ministry tweet said.
Sitharaman further informed her Korean counterpart about investment opportunities for value addition in seafood sector in India and about the newly identified projects under the EDCF Framework (Economic Development Cooperation Fund) Agreement and expressed hope for their quicker implementation.
India is looking forward for more committed bilateral relations between the two nations and more ways to further deepen the investment cooperation, she said.
“Choo Kyung-ho said the two countries should continue to broaden cooperation and engagement and that he hoped that Korea will get the opportunity to participate in the investment avenues in India,” the finance ministry tweeted.
During the assembly, Sitharaman identified that the not too long ago signed EDFC mortgage settlement for the “ITS institution of Nagpur-Mumbai tremendous communication expressway” project will open a gateway for other developmental projects in India.
“Referring to the Nagpur project, Mr. Choo Kyung-ho informed FM Smt. @nsitharaman that the Korean investment in the project currently stands at 215 billion won (approx. Rs. 1,495.68 crore),” the ministry tweet mentioned. PTI DP JD The PTI correspondent is in South Korea on the invitation of the Asian Development Bank.
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