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Korean brands are household names in India: PM

South Korea,Business/Economy,Diplomacy, Sun, 25 Mar 2012 IANS

Seoul, March 25 (IANS) With some 300 South Korean companies having a presence in India and many of them a household name, Indian Prime Minister Manmohan Singh said Sunday he hoped to see many more, particularly from the medium and small sectors, setting up shop there.


"I invited Korean firms to invest in India in a big way. Companies such as LG, Hyundai and Samsung are already household names in India. We would like to see small and medium sized Korean companies also making India a base for their manufacturing," the prime minister said at a joint media interaction with South Korean President Lee Myung Bak after their talks here.


"I informed President Lee that India is making a huge effort in upgrading our physical infrastructure. We want Korean companies to help us realize this objective and benefit from the opportunities provided by this," Manmohan Singh added.


He again referred to the Korean companies during his speech at a lunch hosted by President Lee.


"Korean companies were among the first to repose confidence in India and we opened out economy in 1991. Many Korean brands are household names in India.


"There is nevertheless, immense potential for forther economic cooperation between our two countries," Manmohan Singh noted.


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