Exclusive industrial zone for South Korean industry to be set up in Rajasthan

New Delhi, Mar. 26 : The Government of South Korea is fully committed to support Korean entrepreneurs to set up their units in Rajasthan as part of overall bi lateral relations between the two countries.

Ambassador of the Republic of Korea to India, Joon-Gyu Lee, today said his government was very upbeat about trade relations between the two countries, which have been growing substantially in the past few years.

Lee was speaking during the ceremony of the signing of the Memorandum of Understanding (MoU) for setting up an exclusive Korean Industrial zone in Rajasthan. The MoU was signed between the Rajasthan State Industrial Development and Investment Corporation (RIICO) and South Korean Trade Promotion Agency (Kotra). The zone is being set up at Ghilot in Neemrana, which is a fast emerging industrial centre in the NCR region.

The Ambassador of the Republic of Korea to India said setting up of the zone is a step ahead in the mutually beneficial economic cooperation and trade between South Korea and India had already reached 19 billion US dollars last year.

"There was a lot of potential which can be tapped by Korean industry in future, particularly because of the upcoming Delhi-Mumbai Industrial Corridor, forty percent of which passed through Rajasthan," he said, while emphasizing that this will provide further impetus to trade.

Sunil Arora, Additional Chief Secretary, Industries and Chairman RIICO, said Chief Minister Ashok Gehlot, Industries Minister Rajendra Pareek and Chief Secretary C.K. Mathew were happy that the Korean industrial zone had come to fruition in a short time.

He said the state government had put in place systems for early and transparent clearances of investment projects.

Arora said that this was reason many companies were choosing Rajasthan for their investment. He said the state government would take concrete steps to further facilitate investments by Korean companies.

With this, Rajasthan will become the first and the only state to host two country specific exclusive manufacturing zones. The state already hosts a Japanese Manufacturing Zone at Neemrana, which was established in 2008.

RIICO Managing Director Naveen Mahajan made a presentation to about a hundred representatives of Industry about the advantages that Rajasthan holds as an investment destination.

He said that Rajasthan had a strife free Industrial climate and a highly trained workforce.

"Its power situation was also comfortable," Mahajan said, and added that besides the many industrial zones being developed in the state, some new ones held a lot of potential for South Korean Industry. These were the electronics, apparel and pharma zones being developed in the Bhiwadi area, close to Neemrana.

Sidharth Mahajan, Commissioner Industries, Bureau of Investment Promotion, Rajasthan, gave a presentation of the proposed DMIC, 40 percent of which will pass through Rajasthan.

He said the Ghilot area was also the first region on DMIC as it entered the state and had been specially marked out for development. Among the proposed projects in the region were the establishment of a green field airport and a knowledge city.

Anil Sinha, Head Advisor (Services), International Finance Corporation (IFC), South Asia, which had facilitated the negotiations between RIICO and Kotra, said Rajasthan had been identified by the IFC as a focus state for promotion as an industrial destination. He said under a knowledge partnership with BIP procedures were being simplified.

The MOU was signed by Naveen Mahajan and Kyung Jool Kim, Director General, Kotra, under which both organisations shall work jointly to promote industrial investment and technology transfer from Korea to Rajasthan. They will also facilitate each other's efforts to disseminate information for attracting investment from South Korean Industry.

Neemrana is situated midway between Delhi and Jaipur on National Highway Eight. It is 122 kilometres from Delhi and about 100 kilometres from the Indira Gandhi International Airport.

--ANI (Posted on 26-03-2013)

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