South Korea’s $10 billion boost for India’s infrastructure

As India’s Prime Minister Narendra Modi arrived in South Korea, on his last leg of three-nation visit, Seoul has announced that it will offer $10 billion to support several of India’s ambitious projects including bullet trains and smart cities.

“My country is offering India a financial package amounting to a total of $10 billion. This will comprise an economic development cooperation fund of $1 billion and export credits of another $9 billion,” said Joon-gyu Lee, South Korea’s envoy to India.

Several South Korean companies are doing well in India, and this has given confidence to other Korean organisations to expand its manufacturing and other operations in the country.

Read More