Key highlights

1. "My country is offering India a financial package amounting to a total of USD 10 billion. This will comprise an economic development cooperation fund of USD 1 billion and export credits of another USD 9 billion," Joon-gyu Lee said.

2. The fund will be used to support several of Prime Minister Modi's initiatives on infrastructure development, including smart cities project, railways, power generation, transmission.

3. South Korean companies are especially interested in developing India's railroad network, ports and other modern transportation mediums.

4. South Korea has the experience in all aspects of railway development, from modernisation of the existing network to complete turnkey for high-speed 'bullet trains'.

5. South Korea stands ready to work with India to develop its transportation infrastructure.

6. PM Modi has, many a time, evinced interest in South Korea's capability in ship building and the need to boost the Indian vessel-manufacturing operations.

7. Seoul also seems keen to pursue ties in ship building  area as well.

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