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India-Korea Business Forum to Boost B2B, G2G Ties and Futuristic Partnership

The India-Korea Business Forum aims to exponentially increase cooperation, particularly between businesses and governments. South Korean Minister Yong Seok Rooh highlighted India's promising market for Korean SMEs and startups, noting the country's developed startup ecosystem. The forum coincides with both nations elevating their bilateral relationship to a "futuristic partnership," with Korea joining key Indian-led global initiatives. Prime Minister Narendra Modi emphasized the partnership's role in promoting peace, stability, and a progressive Indo-Pacific region.

Key Points: India-Korea Forum Boosts B2B, G2G Ties & Futuristic Partnership

  • Elevate ties to futuristic partnership
  • Boost for Korean SMEs & startups in India
  • Focus on B2B and G2G cooperation
  • Korea joins International Solar Alliance
2 min read

India-Korea Business Forum to boost business-to-business and govt-to-govt ties: Korean Minister

South Korean minister highlights exponential cooperation potential for SMEs and startups as India and Korea elevate ties to a futuristic partnership.

"The Indian market is very promising land for our Korean SMEs and also startups. - Yong Seok Rooh"

New Delhi, April 20

The India-Korea Business Forum aims to significantly enhance cooperation between India and the Republic of Korea, particularly in business-to-business and government-to-government sectors, South Korean minister Yong Seok Rooh said on the sidelines of the summit on Monday.

Highlighting the potential of the partnership, Rooh said both nations have strong scope to deepen economic engagement.

"As you know, our two nations have great potential to cooperate more. So by this summit, we expect that cooperation between India and Republic of Korea will be augmented exponentially. B2B and G2G, we have great potential, especially for Korean SME," he said.

He further noted that India offers significant opportunities for Korean businesses, particularly small and medium enterprises (SMEs) and startups.

"The Indian market is very promising land for our Korean SMEs and also startups. As you know, Indian startup's ecosystem is very developed. So we find that we think we have great potential for cooperation in the field of setup," he added.

The remarks come as India and South Korea decided to elevate their bilateral relationship to a "futuristic partnership," signalling a new phase of cooperation across multiple sectors.

Earlier in the day, Prime Minister Narendra Modi also highlighted the importance of the partnership in the current global context.

"In this period of global tensions, India and Korea together send a message of peace and stability. We are very happy that today Korea is joining the International Solar Alliance and the Indo-Pacific Oceans Initiative," he said.

The development marks South Korea's entry into two key global initiatives led by India--the International Solar Alliance and the Indo-Pacific Oceans Initiative--which are aimed at promoting sustainable development and regional cooperation.

PM Modi also emphasised the shared vision of both countries for the Indo-Pacific region. "Through our shared efforts, we will continue to contribute towards a peaceful, progressive and inclusive Indo-Pacific. We also agree that reforms in global institutions are essential to address global challenges," he added.

The India-Korea Business Forum is being seen as a key platform to unlock new opportunities for collaboration, particularly in areas such as startups, SMEs and innovation-driven sectors, while strengthening institutional and economic ties between the two countries.

- ANI

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Reader Comments

P
Priya S
A futuristic partnership sounds promising. Korea joining the International Solar Alliance is a big win for green energy. We need more such collaborations to tackle climate change. Good move by the government.
R
Rohit P
While the intent is good, I hope this isn't just another talk shop. We've had many forums before. The focus should be on actual implementation and removing red tape for Korean SMEs wanting to set up shop here. Actions speak louder than words.
S
Sarah B
As someone working in tech, the potential for knowledge exchange is huge. Korean expertise in semiconductors and electronics can really boost our 'Make in India' initiative. Hope the partnership extends to skill development programs too.
V
Vikram M
Strengthening ties in the Indo-Pacific is crucial for regional stability. Korea's entry into these initiatives shows India's growing diplomatic clout. Jai Hind!
K
Kavya N
My cousin works for a Korean auto parts company in Chennai. They've been waiting for clearer policies. This forum should address such ground-level issues for existing businesses, not just new startups. Overall, a positive step.

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