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Prime Minister Narendra Modi Stern On Intensifying India-Korea Economic Relations

India features among the top 10 trade partners of South Korea and is the sixth largest export destination for S Korean goods with the trade volume reaching $21.5 billion in 2018. 

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Noting that this was his third interaction with the Korean business leaders in 12 months, Modi said: "Negotiations to upgrade the comprehensive economic partnership agreement (CEPA) have been fast-tracked to achieve the bilateral trade target of $50 billion." Pixabay

Making a call to intensify the India-Korea economic relations, Prime Minister Narendra Modi here on Thursday urged more Korean businesses to turn their attention towards India.

“I wish to see more and more Korean businesses turning their attention to India,” Modi said.

Addressing the India-Korea Business Symposium, Modi who is on a two-day official visit to South Korea, said India has become one of the most open countries for foreign direct investment (FDI), recording $250 billion inflow in the past four years.

India
Highlighting the sound fundamentals and that the Indian economy is on its way to become a $5 trillion economy soon, Modi said no other large economy in the world has grown at 7 per cent year after year.
Pixabay

Noting that this was his third interaction with the Korean business leaders in 12 months, Modi said: “Negotiations to upgrade the comprehensive economic partnership agreement (CEPA) have been fast-tracked to achieve the bilateral trade target of $50 billion.”

India features among the top 10 trade partners of South Korea and is the sixth largest export destination for S Korean goods with the trade volume reaching $21.5 billion in 2018.

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Trade Groups Claim, American’s Detention Is A Potential Moment For Russia. Pixabay

“Not just trade, in terms of investment also we are seeing a positive turn. Korean investments into India have reached a cumulative figure of almost $6 billion,” the Prime Minister said.

Noting that the South Korean National IT Industry Promotion Agency (NIPA) has opened its India office in Bengaluru to facilitate Korean startups in India, the Prime Minister said both the countries have decided to set up a future strategy group (FSG) and a centre for research and innovation cooperation.
Also Read: Trade Groups Claim, American’s Detention Is A Potential Moment For Russia
Highlighting the sound fundamentals and that the Indian economy is on its way to become a $5 trillion economy soon, Modi said no other large economy in the world has grown at 7 per cent year after year.

India, he said, has jumped to the 77th spot on the World Bank’s “ease of doing business” rankings on the back of reforms and is determined to break into the top 50 next year. (IANS)

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India: Boost to Biocon’s Biosimilar Business as Bengaluru Units Get European Nod

The international certification would enable the company to address the patients' needs

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Biocon, Business, Bengaluru
In March, the European regulator (EMA) inspected the twin facilities where a range of bio-similars are manufactured. Pixabay

The European Medicines Agency (EMA) has certified the Biocon drug product and substance facilities in the city’s southern suburb for good manufacturing practice.

“We have received a certificate from EMA for the good manufacturing practice compliance by our biological drug product and substance facilities at Bengaluru,” said the city-based leading biotech firm in a statement on Saturday.

Biocon, Business, Bengaluru
The European Medicines Agency (EMA) has certified the Biocon drug product. Pixabay

In March, the European regulator (EMA) inspected the twin facilities where a range of bio-similars are manufactured. “It was a surveillance inspection of our facilities and a pre-approval inspection of our additional manufacturing line,” said the statement.

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The international certification would enable the company to address the patients’ needs in the European Union (EU) markets and enhance access to its bio-similars, said a Biocon’s spokesperson in the statement. (IANS)