India-South Korea Ties: Industry Leaders Eye Deeper Economic Collab

Indian industry leaders advocate for stronger India-South Korea economic ties, citing technology partnerships, manufacturing, and supply chain integration as key growth areas at the India-Korea Business Forum, aligning with India's reform push.

Indian industry leaders on Monday underscored strong potential for deeper economic collaboration between India and South Korea, highlighting technology partnerships, manufacturing opportunities, and supply chain integration as key drivers of future growth.

Leaders Champion Deeper Economic Collaboration

Speaking on the sidelines of India-Korea Business Forum, Sajjan Jindal, Chairman and Managing Director of JSW Steel, said the evolving global landscape makes stronger bilateral ties even more important. "The Prime Minister was very forthcoming that the India-Korea relationship should get stronger in today's disturbed global environment," he said.

Echoing similar sentiments, Hitesh Doshi, Chairman and Managing Director of Waaree Group, pointed to India's manufacturing push as a key attraction for Korean firms. "The Prime Minister's decisive leadership has helped industries make things in India, and not just for Indian companies. Companies from Korea are also coming here and setting up plants," he said, adding that "today's programme will definitely help develop more business between the two countries."

Subhrakant Panda, Managing Director of Indian Metals & Ferro Alloys Limited, highlighted complementarities between the two economies, particularly in technology and scale. "The Prime Minister has an expansive vision for India's place in the global economy... Korean technology combined with India's investments in R&D, the scale that we can provide, and the integration benefits we can bring to supply chains, will be mutually beneficial," he said.

Industry leaders also stressed the role of reforms and India's growing market in attracting global partnerships. Rajiv Memani, Chairman and CEO of EY India, said South Korea's strengths align well with India's growth trajectory. "South Korea has some of the leading technologies in the world, particularly in advanced manufacturing, semiconductor, shipbuilding. India is going through a massive reform process... There's a great opportunity to partner... and blend that with South Korean technology," he said, adding that most Korean companies in India "sounded as if they wanted to do more."

Focus on Emerging Sectors and Digital Future

Highlighting emerging sectors, Rajan Navani, Founder and CEO of JetSynthesys, pointed to digital ecosystems and youth-driven innovation as future areas of collaboration. "There is immense commitment on both sides to deepen the India-Korea partnership, particularly in areas around Gen Z and digital ecosystems... truly a futuristic long-term partnership," he said.

The forum brought together leaders from both countries, reflecting a broad consensus that stronger India-South Korea ties--spanning manufacturing, technology, and digital sectors--can unlock new avenues for trade and investment. (ANI)

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