IT and Industries Minister K.T. Rama Rao on Wednesday said Telangana is keen on attracting South Korean companies in a big way and is willing to set up an exclusive cluster of them.
The State government will provide complete assistance to the interested companies, he said here during a meeting with a visiting South Korean delegation led by Ambassador Shin Bongkil. The Korean delegation is on a tour of Telangana, looking for investment opportunities and also to strengthen ties between the State and Korea.
Priority sectors
An official release on the meeting said opportunities for Korean companies to invest in various sectors such as electronics, textiles, food processing, pharma and other priority sectors in Telangana were discussed.
The Minister gave an overview of the progressive industrial policies of the State. He said the State government will work with organisations like Korea International Trade Association (KITA), Korea Trade-Investment Promotion Agency (KOTRA) to support Korean companies in Telangana.
Industrial policy
Mr. Rao said Telangana is home to several marquee companies, some of which are based out of South Korea as well. Highlighting the State’s industrial policy, he said “Telangana has the best industrial policy in the country.” Also, Telangana is consistently ranked top in Ease of Doing Business rankings, he said.
Mr.Bongkil said South Korea is keen on expanding its business footprint in the State. Chief Secretary S.K. Joshi and Industries and IT Secretary Jayesh Ranjan were present during the meeting, the release said.
