Amitabh Kant, Secretary, Department of Industrial Policy & Promotion, (DIPP), Ministry of Commerce and Industry, has exhorted Korean companies to look ahead of the curve, invest and set up manufacturing and R&D bases in India as this country quicken its strides to touch double-digit growth rate in three to four years.

Speaking at a business meeting on ‘Make in India: Contribution of Korean Companies', organised by FICCI, Korea International Trade Association (KITA) and Korean Chamber of Commerce India (Kocham India), Kant said, "The future for Korean companies is not in Korea. It is in India both for manufacturing for the domestic market and for export." ‘

Korean companies, he added, would do well to drop anchor in India now as three to four years from now the growing Indian economy would have attracted large and small companies from across the developed world and it would be too late to scout for manufacturing opportunities then.

He said that India was focusing on manufacturing, digital technologies and skill development and the three programmes will converge and integrate with one another. "We are not just looking East, we are acting East, the Indian economy is growing by 7 per cent and in the long term, GDP is expected to grow between 9 per cent and 10 per cent."

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