Kant said that India would like to see small and medium Korean companies set up manufacturing bases in this country and "we can create ‘plug and play' facilities for them." Raising the pitch for ‘Make in India', Kant said that it is time for Hyundai Motor to set up a second plant in India, and turned to Hyundai MD & CEO and said, " If you don't set up your second plant now, you will regret it later."

Dr. Jyotsna Suri, President, FICCI and Chairperson & Managing Director, Bharat Hotels Ltd., in her remarks, pointed out that Korea was one of the first countries to realise the potential of India as a manufacturing destination.

Korean investment in India is concentrated mainly in the manufacturing sector which accounts for 86 per cent, with wholesale and retail trade 6 per cent, construction 1.2 per cent and financial and insurance activities 1.3 per cent. The Korean companies' faith in the India growth story is clearly reflected in the choice of India as a launch pad for Korean global automotive offerings, including an export hub for Hyundai Motors which has been exporting a significant chunk of its "Made in India" vehicles.

She said other major Korean brands such as Samsung and LG have made significant connect with Indian consumers. Their model has been to operate through wholly owned subsidiaries with large scale investments, which allowed them to operate on economies of scale and establish their brand image at early stage.

Dr. Suri said that Korean companies are bringing in capital, cutting-edge technology and generating employment in India. According to Korean Exim Bank, Korean companies have invested more than US $ 3.5 billion in India till December 2014 and 641 Korean companies have invested in India.

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