Prime Minister Manmohan Singh on Monday asked South Korean businessmen to help India expand its burgeoning solar and nuclear power sectors by investing in these environment-friendly technologies.
?We are committed to increasing energy efficiency and the share of renewables, including solar and nuclear power, in our energy mix,? Singh told a group of top Korean CEOs here. Among the CEOs present was Kim Joong-Kyum of the Korea Electric Power Corporation (Kepco).
?There will be large business opportunities and I am aware of Korean capabilities in environment friendly technologies,? the Prime Minister said at a meeting organised by Korean industry chambers.
South Korean President Lee Myung-bak, during a bilateral meeting with Singh, had requested that his country be allocated a site in India to build nuclear reactors. Apparently, sensing the concerns of the Korean businessmen with regard to the much-delayed $12 billion Posco steel project in Orissa, the Prime Minister told the CEOs that ?our processes can be slow but there are effective mechanisms for resolution of problems and differences and a strong rule of law.?
?The government is keen to move forward with the Posco project and there is some progress in this regard. I believe that India is a stable and profitable long-term investment opportunity,? he said.
Besides Kepco, CEOs of Samsung Electronics, Tata Daewoo, Ssangyong Motors, Hyundai Motors and Doosan Heavy Industries were present at the meeting.
?Investment from Korea is a priority for India. We will take pro-active steps to address investor grievances and improve the business climate in the country,? Singh said. He said many states have been actively encouraging foreign investment and the Union Government will support these efforts.