The Embassy of India, Seoul invites all Indian nationals to a flag hoisting ceremony on the occasion of the 65th Independence Day of India on Monday, August 15, 2011. Kindly arrive by 845 am.

I am delighted to have this opportunity to interact with the Indian community and with Korean Friends of India.

In all my visits abroad, I accord a special value to my interactions with the Indian community, and foreign friends and well-wishers of India. After all, relations between countries are built and nurtured by the people on both sides. The goodwill generated by the Indian Diaspora contributes profoundly to the relationship between India and the Republic of Korea. If our Tri-colour is flying high in Korea, a large part of the credit goes to you, and to your contribution to the land you have adopted as your karmabhoomi. Indians abroad numbering over 25 million across the world are law-abiding, hardworking, and enterprising. All of you in the Republic of Korea are no exception.

The Republic of Korea and India share not just historical ties, but cultural affinities underlined by age-old traditions and the philosophy of the Buddha. India was present here at the dawn of Korean independence, and in fact Indian representatives oversaw the first democratic elections in this country in 1948. Our Medical Unit and Field Ambulances offered medical care and succour, to both sides during the Korean War. There is natural empathy between our two countries, as both suffered the pain caused by colonialism. Our countries now share a Strategic Partnership and values of democracy, rule of law and respect for human dignity, which binds our two peoples together.

My own visit to the Republic of Korea is aimed at accelerating the momentum of our bilateral relations. All of you can also contribute to this goal. I urge you to give your best to strengthen Korea, and help expand the bilateral partnership.

I understand that the Indian community in Korea is about seven thousand strong. This number may be relatively small, but you are making a perceptible contribution to various walks of life of this proud and thriving nation. Amongst you are successful businessmen, academics, scientists, students and researchers, as well as management and engineering professionals. As you would be aware, India and Korea have a Social Security Agreement which would protect the retirement benefits of professionals and others. The administrative arrangements to operationalise this important Agreement have been finalized during my visit. We wish that all of you flourish and at the same time make a contribution to Korea's cultural, economic and social milieu. It is important that whatever your line of work, you remain committed to the integrity, prosperity and well-being of this wonderful country and its people.

We, in India, are proud of all of you. With your energy, your dynamism, your entrepreneurship and your skills you have contributed much to the country of your birth as well as the country you have selected to live in.

The world is changing and India is changing too. In the last few years, our economy has begun to grow rapidly due to the efforts and creative energies of our people. This has raised India's profile among the comity of nations. Our Government is committed to remove poverty, hunger and disease. We want our growth process to be inclusive, so that all sections of our populace can have improved standards of living. I am sure that the Indian diaspora will contribute in these efforts. We have a full-fledged Ministry of Overseas Indian Affairs for the benefit and welfare of the Indian Diaspora. Each year, we celebrate Pravasi Bharatiya Divas. I hope many of you are able to participate in such activities.

It is a matter of great joy for me to learn about the incredible individual Korean stories of affection for India, our culture, and our values. I recognize two such Korean citizens who are present here with us this evening.

First, Dr. Kim Yang Shik, the President of the Tagore Society, who was conferred the Padmashree award for her exceptional contribution, by translating Gurudev Tagore's works into Korean. The Indian Art Museum that she has established recently in Seoul, with her personal collection of artefacts from India selected over fifty years, can only be described as an amazing act of friendship and love towards India.

Dr. Thok-kyu Limb, the President of the India-Korea Society, you have been a pillar of the India-Korea partnership for more than twenty years. Your association with Indian leaders, over more than a generation, and your contribution through your writings, to promoting understanding and solidarity between our two countries evokes admiration for your efforts.

In conclusion, I would like to say that the strong and vibrant political and economic partnership between India and the Republic of Korea can only benefit from endeavours of people who forge ties of friendship.

Thank you for being with me here this evening, and thank you for your invaluable contribution to the India-Korea friendship.

I wish you, your families, and all our Korean friends, success, happiness and prosperity.

I am very pleased to be with representatives of Korean and Indian industry here in Seoul today. I am aware that the Strategic Partnership between India and the Republic of Korea, has been driven to a large extent by the efforts of all of you gathered here.

To us, in India, the Korean economic miracle is inspiring. It was the hard work of the people of this country, coupled with the successful business model that was adopted, which has created the incredible economic success that the Republic of Korea today represents. I want to congratulate you for that.

In India too, you spotted the economic opportunities long before others, and this first-mover advantage has enabled Korean companies to reap great profits in our country. Hyundai, Samsung and LG are household names in India today.

The rapid growth of the Indian economy over the past few years, and the fact that we have been able to weather the storm of the global financial crisis reasonably well, is creating a huge market in India. Korean companies have adjusted extremely well to conditions in India. You are also making India the manufacturing hub for exports to third countries in South Asia, the Middle East and even Eastern Europe.

India attaches great importance to improving its infrastructure, for which about 1 trillion US Dollars will be required in the coming years. This provides a great investment opportunity for foreign companies, including those from Korea. In expanding and modernizing our roads, highways, airports, sea ports and railways, we will require investment from foreign entities and firms. We look forward to greater participation in this endeavour by Korean companies.

The objective of my State Visit to your beautiful country is to accelerate our bilateral relations. The Comprehensive Economic Partnership Agreement (CEPA) implemented by us since January 2010 has yielded good results. Our bilateral trade rose by 40 percent last year, and by current projections is slated to reach 21 billion US Dollars during the current calendar year, and would comfortably reach the level of 30 billion US Dollars by 2014, the target we have set for ourselves. President Lee and I discussed the possibility of further upgrading our CEPA. Expert level discussions will commence from late-September this year.

Several representatives of the Indian industry have travelled to Seoul to be present here, during my visit and are participating in today's function. I urge them to fully utilize CEPA to expand exports to the Republic of Korea. Our IT companies are some of the best in the world, and will be able to help Korean businesses in reducing costs and enhancing competitiveness. Similarly, Indian pharmaceuticals are of high quality coupled with low prices, and will be beneficial to Korean consumers.

I am very happy to see that Indian companies are willingly participating in the further growth and development of the Korean economy. There have been substantial investments by the the TATA Group, the Mahindra Group and Hindalco Industries here in Korea. These are all blue chip firms from India, and I can assure you, that they will make positive contributions in the further growth of your country.

An India-Korea Agreement for Cooperation in the Peaceful Uses of Nuclear Energy was also signed yesterday. The Indian civil nuclear energy market is now open for Korean companies providing a new sector for our bilateral economic cooperation.

In my discussions with President Lee, I informed him of India's capabilities in the peaceful uses of outer space, and urged greater cooperation between our countries in this sphere. We look forward to the day when Korean satellites can once again be launched by Indian rockets. The Governments of India and RoK have also established a Joint Science and Technology Fund amounting to 10 million US Dollars for joint research between our scientists, in areas such as Information Technology, Biotechnology, energy-efficient technologies and nanotechnology. I am confident that their joint efforts will result in new products for both Korean and Indian industry.

We need more direct flights between our countries. This is an aspect that we need to look at in all seriousness, if we are to expand trade and enhance people-to-people exchanges. Indian carriers have been requesting Korea for 5th Freedom Rights to enable them to fly to points beyond Incheon. President Lee and I have agreed, that our civil aviation authorities will meet soon to discuss this possibility.

I am happy that an Indian Chamber of Commerce in Korea was launched last year, which brings companies from both our countries together. I believe there is much that we can learn from each other and do together.

Ladies and Gentlemen, as you can see, there is tremendous potential to expand the India-RoK bilateral partnership. I urge you to fully utilize the opportunity of meeting today, to impart further momentum to business relations between our two countries.

The people of my country fondly recall Your Excellency's successful landmark visit to India last year, as Chief Guest at our Republic Day celebrations. My own State Visit to the Republic of Korea aims at accelerating the momentum of our bilateral relations.

Ties of history and culture between India and Korea provide a very good foundation for our efforts. Many of us in India know of the legendary Princess from Ayodhya, who traveled to Korea to marry King Kim Suro. Buddhism provides an enduring link between our societies. More recently, the visits to Korea of India's Poet Laureate Rabindranath Tagore and his description of Korea as the 'Lamp of the East' are an abiding bond between us. Let me thank President Lee, his Government as well as the city authorities of Seoul, for permitting the installation of a bust of Gurudev Tagore, at a public location in the city, where I paid homage this morning. We thank you for the honor you have done to India, with this gesture.

Our countries share values including democracy, rule of law and respect for human rights, which make it easy for us to work together, and cooperate in almost all areas of human endeavor.

In contemporary times, Korean industry has become legendary, and coupled with India's dynamically growing market, we have new economic opportunities which did not exist earlier. That we are making full use of such openings, can be seen from the fact that our bilateral trade grew 40 percent in 2010, and is continuing to show a similar trajectory this year too. Korean companies have become household names in India, and some of our best business houses are also investing in your country. We will work towards maintaining and enhancing these trends.

The conclusion earlier today of a bilateral Agreement on Cooperation in the Peaceful Uses of Nuclear Energy, exhibits the strategic direction our partnership is taking. We are confident that our nations can also cooperate in areas such as defence and the peaceful uses of outer space.

The Year of India in Korea and a similar Year of Korea in India, have got off to a good start. The reciprocal establishment of Cultural Centers in our capitals is another good decision aimed at expanding our people-to-people exchanges. We are also working to promote greater direct air links between us, so as to encourage more tourist flows.

We congratulate Korea on its successful hosting of the last G - 20 Summit, and for steering in this premier forum, discussions of international economic issues, in a direction which serves the interests of the international community. We are confident that similarly, Korea will successfully host the Nuclear Security Summit in March next year. India will participate in that meeting.

Excellency, India is an integral part of the emerging economic and security architecture in East Asia. We are both members of the East Asia Summit process. As we are two countries with similar values, we look forward to stepping up our discussions and have closer coordination on regional issues. Similarly, I am very sure that our cooperation in international institutions, including the United Nations is set to expand.

Therefore, Excellency, the prospects for our Strategic Partnership are very bright indeed. India looks forward to taking our ties to a higher level.

Consular wing and TTS Korea are closed on account of Honorable President of India visit from 26th July to 27th July 2011.
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The Government of the Republic of Korea condemns the series of terrorist attacks in Mumbai, India, on July 13, and offers its deepest condolences and consolation to the innocent victims and their families.

The Government of the Republic of Korea denounces terrorist acts as crimes against civilization and humanity that cannot be tolerated under any circumstances.

One of the major decisions during the summit meeting between the Indian Prime Minister, H.E. Dr. Manmohan Singh, and the President of the Republic of Korea, H.E. Mr. Lee Myung-bak, in January 2010 in New Delhi was to celebrate the ‘Year of India in Korea’ and the ‘Year of Korea in India’ in the year 2011. The two leaders warmly noted the extensive synergies between their two friendly countries and agreed to forge a Strategic Partnership. The decision to dedicate the year 2011 to an intense cultural dialogue is a reflection of their recognition of the deep historic affinities between the two countries and of their abiding faith in the goodwill between the two peoples.

In pursuance of the wishes of the two leaders, the Indian Embassy in Seoul proudly announces the inauguration of the ‘Festival of India’ under the mascot of India’s national bird Peacock that symbolizes India’s colourful diversity captured into a unified soul. The caption of the Festival ‘Namaste Korea’ or ‘Salute to Korea’ is in keeping with the Indian tradition of celebrating the success of a friend and wishing for his prosperity - the success and the prosperity of the friendly country of the Republic of Korea.

Hon’ble Dr. Karan Singh, President of ICCR and H.E. Chung Byung-gug, Minster of Ministry of Culture, Sports and Tourism, H.E. Skand R. Tayal, Ambassador of India, Mr. Suh Jeong-in, Deputy Director of South Asian & Pacific Affairs Bureau, MOFAT, Mr. Suresh K. Goel, Director General of ICCR, Dr. Thok-kyu Limb, Chairman of Diplomacy magazine and President of Korea-India Society during the Opening Ceremony of Festival of India in Korea 2011 at Sejong M Theater on 30th June, 2011

The Festival was opened on 30 June 2011 by the President of the Indian Council for Cultural Relations (ICCR), Dr. Karan Singh, the highest functionary with a Cabinet Minister’s rank charged by the Government of India with the responsibility of promoting India’s external cultural relations. The Minister of Culture, Sports & Tourism of the Government of Korea, H.E. Mr. Choung Byoung-gug, graced the occasion as Chief Guest and conveyed the greetings on behalf of the people of Korea.

The distinguished audience included the Ambassador of India Mr. S.R. Tayal, Director General of Indian Council for Cultural Relations Mr. Suresh Goel, members of the Diplomatic Corps and senior officials of the Government of Korea.

“Trimudra” led by Ranjana Gauhar at Sejong M Theater on 30th June, 2011

The Indian Festival 2011 was launched at the prestigious Sejong Centre in Seoul with an hour-long colourful and panoramic music-dance performance by renowned Indian danseuse Ranjana Gauhar and her team, presenting a medley of the finest of classical and contemporary Indian arts. The Festival will continue for more than six months in Seoul and in several other cities including Busan, and will include an Indian Film Festival, a Buddhist Art Exhibition, an Exhibition of the Paintings of Nobel Laureate Rabindranath Tagore, an enthralling presentation on the traditional Indian dress with the title ‘The Romance of the Sarees’, a play from contemporary Indian theatre ‘Pune Highway’, and a symposium that brings together Indian and Korean scholars to reflect on and discuss the way forward for the ever-expanding India-Korea Relations.

For more information about the Festival of India and its various events please visit the website www.indoculture.org

For further information please contact Indian Cultural Centre

Tel: 02)792-4257; Fax: 02-795-4258 Website: www.indoculture.org

EPIK (English Program in Korea) is recruiting Guest English Teachers from India starting from the fall semester 2011. Please refer to the EPIK Application Instruction form (Form1 , Form2) for details. Complete and send your application form along with two letters of recommendation to .These positions will be offered on a first come first serve basis.

In response to a question Indian Ministry of External Affairs Official Spokesperson Mr. Vishnu Prakash said,

“The Asian Group at the UN met in New York on 6th June 2011 and endorsed by acclamation the candidature of UN Secretary General Ban Ki-Moon for a second term. India's Acting Permanent Representative, Ambassador Manjeev Singh Puri, was present at the meeting and conveyed India's support in the matter. The Chair of the Asian Group is writing to the President of the General Assembly and the President of the Security Council, informing them of the decision of the group.”

Even years before Korea was to throw off the yoke of foreign occupation, a literary genius and a champion of human freedom and dignity, Rabindranath Tagore from India, prophesied in his famous poem ‘The Lamp of the East’ written in 1929 that it would not be long before Korea rises again like a Star among the comity of nations. As India celebrates 2011 as the 150th Birth Anniversary of this great poet, the Republic of Korea partakes in India’s joy by installing his bronze bust in Dehangro, the cultural heart of Seoul. The approximately four feet high metal masterpiece, exquisitely carved by the renowned master sculptor from India, Gautam Pal, has been gifted to Korea by the Indian Council for Cultural Relations (ICCR), Government of India, and the people of India.

In a serene and impressive ceremony, the Hon’ble Speaker of the Lok Sabha (the Lower House of the Parliament) of India, the largest Democracy of the world, H.E. Mrs. Meira Kumar, unveiled the beautiful statue today, jointly with H.E. Mr. Park Hee Tae, the Hon’ble Speaker of the National Assembly of the Republic of Korea. Mr. K. Rahman Khan, Hon’ble Vice Chairman of Rajya Sabha (Upper House of India’s Parliament), Mr. Mo Chul Min, First Vice Minister of Culture, Tourism and Sports, Government of Korea, Mr. Kim Young Jong, Mayor of the Jongno District and H.E. Mr. Skand R. Tayal, Ambassador of India to the Republic of Korea also graced the occasion. Mrs. Kim Yang Shik, the President of the Tagore Society in Korea, who was honored with the title of ‘Padmashree’ by the Government of India in 2002 for her devotion and commitment to the ideals of Tagore, paid a literary tribute to Tagore, the first Asian to win the Nobel Prize in 1913 for his lyrical and poetic work ‘Gitanjali’ or ‘The Song Offering’.

The Hon’ble Speaker of India conveyed Government of India’s appreciation to the President of RoK, H.E. Mr. Lee Myung-bak and the Government of the Republic of Korea for their friendly gesture of offering to place this bronze sculptural monument in the thriving metropolis of Seoul, as a mark of respect to the memory of Tagore, and also in recognition of the deepening and expanding Strategic Partnership between India and Korea.

India greatly admires the extraordinary strides made by the Republic of Korea in both economic and political spheres, and renews its solidarity with Korea in her endeavours towards realizing Tagore’s vision and prophecy. Surely, the memory of ‘Gurudeb’ or the ‘Revered Master’ as Tagore used to be fondly addressed by no less a figure than Mahatma Gandhi himself, now encapsulated in stone and metal in Korea, will become a permanent symbol of Tagore’s love and admiration for Korea and the people of Korea, and will be a constant reminder to the passersby of India-Korea Friendship.

1. His Excellency Mr. Pawan Kumar Bansal, Minister of Science and Technology, Earth Sciences and Parliamentary Affairs of the Republic of India, paid an Official Visit to the Republic of Korea on May 2-6, 2011 on the invitation of His Excellency Mr. Ju-Ho Lee, Minister of Education, Science & Technology of the Republic of Korea.

2. H.E. Minister Bansal, and his delegation visited Korea Institute of Science and Technology (KIST), Korea Research Institute of Bioscience and Biotechnology (KRIBB), Korea Innovation Cluster Foundation (KICF), Advanced Automotive Research Center, and Seoul National University (SNU), interacting with Korean scientists.

3. The 1st India-Korea Science & Technology Ministerial Steering Committee Meeting was held in Korea on May 4th, 2011. The two Honorable Ministers led their respective delegations.

4. The meeting was held in a cordial atmosphere and both the Ministers shared their views on India-Korea relations in Science & Technology.

5. H.E. Mr. Pawan Kumar Bansal expressed sincere thanks to H.E. Mr. Ju-Ho Lee and the Korean delegation for the warm reception and hospitality accorded to him and to the Indian delegation during their visit to Korea.

6. The two Ministers exchanged views on the recent S&T policy trends and recognized the importance of further strengthening cooperation in the field of Science & Technology between the two countries. They welcomed the outcome of the 4th Meeting of the Joint Committee on Science & Technology held in Seoul on May 2, 2011 and endorsed the decisions made by the Joint Committee.

7. The following annual allocation of Joint R&D Fund, which had been secured in accordance with the Korea-India Summit in 2010, was agreed on by the two sides:
- 80% of the Joint Fund on each side for joint projects;
- 10% of the Joint Fund for workshops; and
- 10% of the Joint Fund for reciprocal human resource exchanges in science and technology.

8. It was noted with satisfaction that a large number of proposals (129) were received by both countries in response to the Joint Call for Proposals made in January 2011, and 15 projects have been jointly agreed on for support.

9. The two Ministers agreed to launch an exchange program for those undergoing Masters in engineering and medical sciences, Ph.D. Students, Faculty and Scientists, in the mutually agreed nine areas specified in POC to enhance the research capacity and results of S&T. The exchange programme is expected to commence in the later half of 2011. The two sides also agreed to discuss later the details related to the funding amount, scale, and period.

10. Both the Ministers agreed on the need to promote human resource exchange and joint research in promising next-generation S&T fields, through an MOU for cooperation between KIST and DST. An MOU was signed between KIST and DST in the presence of the two Ministers.

11. Both sides agreed to develop mega research programme in mutually identified technology areas of importance to the two countries such as low grade coal based energy, biomass, nano science and technology, information technology, etc.

12. The two Ministers agreed to launch a new Programme “India-Korea Great Innovation S&T Challenge”. The first Contest would be organized in India in 2012.

13. Both the Ministers noted with satisfaction the organization of first Indo-Korean Workshop on “Energy & Environment” on 4th May 2011 in Seoul. It was agreed to organize two workshops in the areas of “Chemistry & Biochemistry Technology” in the 2nd half of 2011 and “Health & Medical Science” in the 1st half of 2012, both in India.

14. Both the Ministers agreed that the next Ministerial Steering Committee Meeting will be held in India in 2012, and every two years thereafter alternately in Korea and in India. It was also agreed that the next Ministerial Meeting will be preceded by the 5th S&T Joint Committee Meeting.

Despite a section of pilots striking work and disrupting its flight operations, Air India has scheduled to operate 106 flights on the domestic sectors per day as part of the contingency schedule, for the next few days. These include operation of flights by Alliance Air, additional flights operated with wide bodied B777 & B747 and Air India Express B737 aircraft, in addition to the regular Airbus flights, as against a normal operation of about 320 flights. The curtailed operations schedule till 6 May has been finalised and put on the website.

ALL its 45 daily flights on the long haul routes to the United States, United Kingdom, Europe, Japan, Hong Kong, Korea continue to operate NORMALLY and AS PER SCHEDULE. Air India’s subsidiaries, Air India Express operated 72 flights and Alliance Air – 32 flights, also on schedule. Air India has approximately 29000 seats on offer on these services.

On the domestic sector, 90% of flights have been curtailed and 40 domestic flights scheduled out of Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, Chennai and other airports have operated successfully.

Air India continues to take necessary steps to minimize the inconvenience caused due to the strike to its passengers. The number of floor walkers at major airports and Call Centers have been increased. Air India is also transferring the stranded passengers to flights of other airlines.

As far as the attestation of form 6A is concerned, and/or attestation of other documents related to the registration process are concerned, it has been decided in consultation with Ministry of Law and Justice and Ministry of Overseas Indian Affairs that such attestation will be only self attestation by the overseas electors and not by the Missions/Posts.

The Government of Punjab has placed the elections notification along with the list of Electoral Registration officers at www.ceopunjab.nic.in.

The Government of National Capital Territoty of Delhi has placed the elections notification along with the list of Electoral Registration officers at www.ceodelhi.nic.in.

The Government of State of Uttarakhand has placed the elections notification along with the list of Electoral Registration officers at www.gov.ua.nic.in/ceouttranchal.

The Government of Andhra Pradesh has placed the elections notification along with the list of Electoral Registration officers at www.ceoandhra.nic.in.

The Government of Tamil Nadu has placed the elections notification along with the list of Electoral Registration officers at www.elections.tn.nic.in.

The Government of State of Orissa has placed the elections notification along with the list of Electoral Registration officers at www.ceoorissa.nic.in.

Dear fellow Indian nationals,

All of you must be watching the aftermath of the devastating earthquake on 11 March 2011 in Japan, particularly the radiation emanating from the damaged nuclear power reactors in Fukushima Daiichi. You must also be pondering over the possible implications, if any, for all of you residing in the Republic of Korea.

We in the Indian Embassy are observing the situation closely and are following reports coming in from experts from different sources. I am also in close contact with Ambassadors of several friendly countries and am monitoring their assessment of any possible radiation hazard in this country.

At present, all the information received from various sources is reassuring. Even if there is an eventual melt-down in the nuclear reactor core at Fukushima Daiichi, the resulting radiation is unlikely to reach the territory of the Republic of Korea as the prevailing winds in Japan are towards the East, i.e. towards the Pacific Ocean.

We would continue to monitor and analyse all the developments in the coming days. In case required, an advisory will be issued at the website of the Indian Embassy at indembassy.or.kr .Also, those Indian nationals who have not done so already may please register themselves with the Indian Embassy by filling up the Registration Form available at https://indembassy.or.kr/img/VisaInfo/REGISTRATIONFORM001.doc and forwarding it to .

Business Standard

Mahindra & Mahindra, the utility and tractor vehicle maker, has completed the process of acquiring a majority stake in the South Korean auto company SsangYong Motor Company (SYMC), it stated today.

M&M, leader in the sports utility vehicle (SUV) segment in India, said SYMC is no longer in court receivership. M&M will hold 70 per cent in the SUV-making company.

It has also committed to invest KRW (Korean won) 200 billion (about Rs 800 crore) towards SsangYong’s product development programme, an increase of 70 per cent compared to last year, when the troubled company was under court protection.

M&M agreed to buy stake in loss-making SsangYong in November last year for $464 million (Rs 2,083 crore) after the Mumbai-based company emerged as the preferred bidder among a clutch of entities, including Renault, Nissan, the Pawan Ruia group and a few private equity companies.

“This marks the beginning of a new journey for SYMC and will also pave the way for both Mahindra and SYMC to emerge as a strong force, allied together in the global passenger vehicle industry through their strategic partnership,” the release said.

Yoo-il Lee, will be the new chief executive of SYMC, while Dilip Sundaram from Mahindra will be the new chief financial officer. The names of the new board of directors of SsangYong Motor Company were also announced.

Pawan Goenka, president, automotive and farm equipment sectors, M&M, said in a statement, “Mahindra was extremely conscious of SYMC’s Korean heritage and would only want to enhance it. SsangYong will be an independently run Korean company, with largely Korean management and will remain a ‘Made in Korea’ brand.”

M&M aims to tap the R&D and innovation pool of the South Korean company for its own growth. The two companies will share product development programmes and platforms for Indian and world markets.

It plans to launch SsangYong branded SUV’s such as Rexton and Korando-C through the completely knocked down kit route. It is setting up an assembly line at Chakan near Pune for the purpose.

The Embassy of India in Seoul and the Indian Chamber of Commerce in Korea (ICCK) are jointly organizing the ‘Forum on India-RoK IT Partnership for Global Success’ on Monday, 14 March 2011, at Hotel Seoul Millennium Hilton. Registration will commence at 1400 hrs. The event includes cocktails, cultural performance and dinner.

Participation is free and by invitation only.

India is a global leader in Information Technology and is the world’s 4th largest economy on Purchasing Power Parity (PPP). India’s IT expertise, with its innovative and custom-designed solutions, has contributed significantly to the overall profitability, productivity and competitiveness of a number of multi-national companies in a variety of sectors, and added immense value to their operations. RoK is an industrial giant and has rapidly risen to be the 12/13th largest economy of the world.

The two countries, taking advantage of their extensive synergies, have expanded their economic engagement with bilateral trade reaching $17 billion and investments touching $4 billion approximately last year. However, the two economies have not yet fully explored the potential of combining the Indian IT solutions with the Korean industrial and general economic advancement. The IT Forum will attempt to address this aspect and focus on important components of IT Services including BPOs, Design-Engineering-Manufacturing, Banking/Financial Services, Information-Communications-Telecommunications, IT applications to public services by government sector, etc.

Experts in the fields from renowned Indian IT global companies will address the Forum. Mr. Som Mittal, the President of National Association of Software and Service Companies (NASSCOM) of India will deliver the Key-Note Address. The Ambassador of India, H.E. Mr. Skand R. Tayal, will also address the Forum on the Business opportunities between India and ROK and about their rapidly expanding bilateral relationship. The Chairman of Indian Chamber of Commerce in Korea, Dr. Kim J. Shik, will make the Welcome Remarks.

Participation is by invitation only. If any Korean/foreign companies based in ROK are interested in participating in the Forum, they may send a message to Ms. M.S. Song, at email:  with a brief profile of the company and the name and designation of the executive who will represent the company in the Forum.

Government of India is hosting a Ministerial Conference of Least Developed Countries (LDCs) in cooperation with the UN-OHRLLS (UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States) on February 18-19, 2011 in New Delhi. External Affairs Minister of India Mr. S.M. Krishna has invited the Foreign Ministers of all the 48 LDCs for this conference. In addition, the LDCs’ Permanent Representatives to the UN, the Secretary General of UN-OHRLLS and other senior UN officials are also expected to attend.

During the course of the Conference, India will also be highlighting its own national instruments of mutually beneficial cooperation that are in the forefront of assisting the LDCs –
(i) Indian technical and Economic Cooperation Programme (ITEC)
(ii) Duty Free, Quota Free (DFQF) regime for LDCs’ exports to India
(iii) Africa E-connectivity Project and
(iv) Government of India’s credit line Programme.

Kindly visit the website for details: india-ldc.nic.in

India's rank in the International Monetary Fund (IMF) will improve to the eighth position from the current eleventh in terms of quota, after the G-20 grouping reached agreement on Saturday on proposals to reform the IMF's quota and governance system.

“What we have achieved is significant. The quota share (of India in IMF) will improve to 2.75 per cent (from current level of 2.44 per cent), Mr Pranab Mukherjee, Union Finance Minister, told reporters at the end of the G-20 Finance Ministers meeting at Gyeongju in South Korea on Saturday.

Mr Mukherjee also said that quota reforms will give legitimacy to the IMF in the new world economic order. Emerging market economies share in the IMF will now increase to over 45.5 per cent in the 187 nation body IMF. Their current share in IMF is only 39.5 per cent even as they contribute about 47.5 per cent to the global economy in terms of purchasing power parity.

Key elements
The key elements of the agreed IMF reforms include shift in quota shares to dynamic emerging market developing countries and to underrepresented countries of over six per cent, while protecting the voting share of the poorest.

Moreover, Europe will give up two of the nine seats it controls at any given time on the IMF's executive board, which will continue to have 24 members. The next phase of reforms will start in 2013. After the Saturday's agreement, China's ranking in quota terms in IMF will see an improvement to the third position from the present sixth position.

“There was consensus on the IMF reforms only after the BRIC Finance Ministers had a meeting with G-7 finance ministers. This happened at the initiative of the Indian Finance Minister”, official sources said.