However, when you consider Korea's worldwide investment which is estimated to be about $270 billion, there is a scope to invest a lot more in India. "We look forward to more Korean investments in Delhi Mumbai Industrial Corridor, National Industrial Manufacturing Zones and Smart Cities as well as in areas other than manufacturing such as IT and services."

She Bo Shin, Managing Director & CEO, Hyundai Motor & Chairman, Kocham India, said that this was the most opportune time for Korean companies to expand their manufacturing and export capacity and identified automobiles, shipbuilding, electronics, IT, defence production, infrastructure, and energy as the potential for investment in India.

Jehak Jang, Minister Counsellor (Economic), Embassy of the People's Republic of Korea in India, said, "India was going through a paradigm shift in economic policy making, adding that Prime Minister Modi had unleashed a wave of optimism on investment prospects in India."

Korea, he said, was going to set up an industrial park in Rajasthan and added that his country could be a valuable partner of India, powered by skill, scale, and speed. Given a conducive environment, Korean companies would shift their operations to India, he added.

Soonki Kang, Chief Representative, Korea Eximbank on ‘Trends and Status of Korea's investment in India, alluded to lessons Learnt from Korea's FDI experience in India.

These included lack of adequate business information and infrastructure characterised by difficulty in collating information and identification of prominent manufacturing sectors, ambiguity in government policy, insufficient information on market trends, difficulties in land acquisition, lack of quality infrastructure and difficulty in identification of suitable Joint venture partner in Indian business society.

End