| Date: |
29-12-2014 |
| Subject: |
Sushma Swaraj asks Korea to make LNG tankers part of 'Make in India' project |
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NEW DELHI: India has asked Korea to look at co-production of LNG tankers as part of the "Make in India" programme. Foreign minister Sushma Swaraj, on her maiden trip to Seoul, told Yoon Sang-jick, Korean minister of trade, industry and energy, that India would welcome joint ventures between Korean and Indian companies to make LNG tankers, said MEA sources.
Separately, she said, India was also looking at outright purchase of giant LNG tankers from Korea, given its growing energy needs. Korea is one of world's biggest manufacturers of such tankers, including the advanced ones which function as fully loaded floating terminals with liquefaction plants on board. In Seoul for the Joint Commission meeting, Swaraj made a determined pitch for this specific area of cooperation. An MEA official said, "The Korean trade minister indicated that while it is for the private companies to take business decisions, the Govt of RoK views India as an attractive business destination. He said that the RoK is encouraging their companies to avail of the opportunities that have opened up in India following the new initiatives of Govt of PM Modi."
Swaraj also asked for greater market access for Indian pharmaceuticals and software exports. Korea, like China, has raised barriers for Indian exports to that country, which keeps the trade deficit in Korea's favour. Commerce ministers of both countries are expected to meet in early 2015.
Earlier this month, India and South Korea held the first discussions to operationalise a 2012 nuclear agreement signed with Korea. With Japan delaying the approval of the India-Japan nuclear agreement, India is considering inviting Korea to build nuclear power plants in India.
Source : timesofindia.indiatimes.com
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