‘Korean investments will be protected’
Context:
- Assuring Korean firms that their investments in India would be protected, Prime Minister Narendra Modi on Tuesday called upon Korean companies to invest more in India.
Bilateral trade between India and Korea:
- Korea ranks 16th in terms of FDI equity inflows to India.
- The bilateral trade between India and Korea crossed $20 billion in the year 2017, for the first time in six years.
- More than 500 Korean companies, including Samsung, LG and Hyundai, have operations in India.
- India offers a lot of potential for the Korean investors with its huge market and enabling policy environment.
Way ahead:
- The government would undertake further reforms after improvement in tax compliance standards.
- Investors are assured by the government that they would undertake further reforms after improvement in tax compliance standards.
