GreeN Growth - Asia-Pacific Business and Technology Report

specialeventspecialeventThe relationship between India and Korea has always beenwarm, and now with the advent of CEPA (the ComprehensiveEconomic Partnership Agreement) the business ties and tradeopportunities have the potential of being taken to successheights never before seen. One of the key objectives of our servicesfrom India would be to facilitate the flow of activities betweenIndia and Korea, knowledge dissemination and exemption,and also managing the local legalities in India. The samewould ably be supported by the Indo-Korea Business and PolicyForum from Korea.As a woman of many achievements, what is yourgreatest feat thus far?As the famous painter once said, “My greatest painting is yetto be painted.” My greatest achievement is yet to come.How do you manage work life and balance yourbusy work schedule?My work is my passion but family and friends are my firstpriority on any day, and hence we as a family try to take timeout whenever opportunity presents itself. I try and ensure thatat least one meal a day is together with everyone in the family,and with technology we today are at least aware of each oneswhereabouts.What is your vision for the future?Thanks to advancements in technology we can stay connectedwith anyone in any part of the world. I dream of a globalvillage where there are no language or place barriers, whereeveryone comes under the same umbrella and business flowswith the harmony of a mountain stream.After the grand success of Indo Korea Connect2011, the motto of the conference “Join thegrowth, let’s Connect” has become a commonphrase on the lips of many. How do you feelafter starting something that has had this farreachingeffect?Well, the fact that the motto was readily accepted and alsoembraced by all made the conference a bigger hit than whatwas expected. The motto was coined to emphasize the need ofthe hour that growth demands unity - unity of both countries,unity of companies and businessmen, and unity in mutualgrowth. And we sincerely hope that it fulfills its purpose of inspiringmany more toward taking advantage of the opportunitythat lies ahead of us.Tourism is touted as one of the biggest opportunitiesbetween the two countries. What is yourtake on this?Tourism without a doubt is a huge opportunity and more so,also a perfect way for people to build stronger ties with eachother. IKC 2011 had a session dedicated to tourism, where theKorea Tourism Director, Mr. Lee Jae-sang, shared the sessionwith the India Tourism Regional Director. We would conductmore of such sessions and direct meetings to showcase the importanceof tourism and would do our bit in its proliferation. A-Pthe CEPA and its advantages, the industryknowledge and domain expertise shared bythe partnering forums added to the event,bringing to life the true essence of the mottoof the forum – “Join the Growth, Let’sConnect.“Ms Madhubala Nahar thanked the Presidentof IKB&PF Dr. Lakhvinder Singh for hiscontributions toward making this conferencea grand success. The honored speakersat the conference not only enthralled thedelegates with their research and insightfulness,but also ensured that their presentationseducated and motivated the audienceof businessmen toward internationaltrade and commerce.The other sessions covered during theconference included: Automobiles, Bankingand Financial, International Media andits importance, CEPA, Shipping and opportunitiesin ship management, IFRS and InternationalTaxation, and Insurance. Therewere also special guest lectures on Yoga,Nutrition and Healthy Living and an exclusivesession on International Brand Architecture– Brand assessment and valuationfrom Asia’s perspective.The Event was covered by over fourteennational dailies in India. “Join the Growth,Let’s Connect“ has become a commonphrase amongst industries and companiesand with time will only grow larger. A-PKorean Trade MinisterKim Jong-hoon andIndian CommerceMinister Anand Sharmashake hands after signingthe ComprehensiveEconomic PartnershipAgreement.The CEPA in brief:The Comprehensive Economic Partnership Agreement is a free trade agreementbetween India and South Korea. The agreement was signed by Indian CommerceMinister Mr. Anand Sharma and South Korean Commerce Minister Mr. KimJong-hoon. The objectives of this agreement are to liberalize and facilitate tradein goods and services and expand investment between the parties, strengtheningeconomic relations. Further objectives include to establish and promote fair competition,and improve efficiencies and competitiveness for everyone involved.Ms. Madhubala Nahar, the Director of Indo Korea Connect, a CelebratedChartered Accountant, Past Council Members of the Institute of Chartered Accountantsof India, an erstwhile member of the State Co-ordination committee ofthe Reserve Bank of India, winner of the Central Government award for higherstudies, and a two-time winner of the Women of the Year Award (2009 and 2010),was recognized as the key patriarch of the initiative and said, “I am humbled bythis honor and responsibility“ at the inaugural.As for the future, Indo Korea Connect will continue to create bridges and tiesbetween the two countries through its connect initiatives in different cities inIndia and S. Korea. Dr. Lakhvinder Singh assured his full support toward the initiativeand would shortly be handling the external affairs based out of Korea.Further information on the upcoming Business Networking and Knowledge Summits, Buyer–Seller Meets, and Indo Korean Cultural Festivals will be available on www.indokoreaconenct.com and with the IKB&PF’s office.how can their entrances into India be madesmoother?Most companies that have entered the Indian shores so farare of commendable stature and have come with a certain levelof market study before entering the country, and hence the servicessought out have been administrative, legal, accounting,financial, and managing taxation. Services such as the formationof companies, getting manufacturing or business licenses,opening and managing bank accounts, managing accounts, fulfillingstaffing and manpower requirements, and so on, havebeen in demand. But efforts are being put in place in terms ofservice offerings to an extent that would enable even a micro orsmall company or investor to do business with India with easecomparable to doing business in their own countries.What is Indo Korea Connect all about?Indo Korea Connect is perhaps the first ever global platformwhere Korean and Indian companies and professionalscan come together for networking, fellowship, and business inIndia. It would help in accelerating the growth process by enhancingthe capabilities of companies from both countries internationally.The initiative has the blessings of various ministriesof the government of India, including the MSME ministry,and it has already seen heartwarming support from corporateand industry interests in India.In addition, Indo Korea Connect would provide the followingservices to Korean companies who plan to set up companiesor offices in India and the same would be co-ordinated by theIndo-Korea Business and Policy Forum in Korea.1. One-to-one meetings with Indian companies;2. Doing government regulatory works, like formation ofcompanies; availing the PAN (permanent account nos.),and DIN (director information nos.); opening bank accounts;arranging for LCs with banks for export and imports,and IE code nos;3. Providing audit and accounts assistance, providing manpowerfor IT professionals;4. Establishing business centers to start offices;5. Supporting end-to-end solutions to set up businessesand networking, including marketing solutions in India.Could you shed some light on CEPA and what itcould do for the relationship between India andKorea?Reporting from India, International correspondent - Biztech Report Asia,Avinash Nahar20 | A-P BUSINESS & TECHNOLOGY REPORTA-P BUSINESS & TECHNOLOGY REPORT | 21