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Modi Welcomes South Korea's President Lee, Sets $50B Trade Goal by 2030

Prime Minister Narendra Modi welcomed South Korean President Lee on his first official visit to India, marking the first such presidential visit in eight years. The leaders discussed deepening cooperation across sectors including artificial intelligence, semiconductors, and ports, setting an ambitious target to increase bilateral trade to $50 billion by 2030. Modi highlighted the shared values and common strategic outlook on the Indo-Pacific region that bind the two nations. The visit also emphasized sustainable development, with President Lee participating in the 'Ek Ped Maa Ke Naam' tree-planting initiative.

Key Points: Modi, South Korea's President Lee Boost Trade, Indo-Pacific Ties

  • First Korean presidential visit in 8 years
  • $50B bilateral trade target by 2030
  • Cooperation in AI, semiconductors, and energy
  • Strengthening Indo-Pacific partnership
  • Focus on sustainable development
2 min read

PM Modi welcomes South Korea President Lee, highlights shared Indo-Pacific vision, trade push

PM Modi hosts South Korean President Lee, agreeing to deepen cooperation in AI, chips, and energy, targeting $50 billion in bilateral trade by 2030.

"Our nations are bound by shared values and a common outlook on the Indo-Pacific region. - Narendra Modi"

New Delhi, April 21

Prime Minister Narendra Modi welcomed South Korean President Lee on his first visit to India, highlighting the shared values and common Indo-Pacific vision between the two countries as New Delhi hosts the first presidential visit from the Republic of Korea in eight years.

The South Korean President and the First Lady arrived in New Delhi a day earlier for a three-day official tour and were received at the airport by Union Minister of State for Corporate Affairs Harsh Malhotra.

In a post on X on Monday, PM Modi wrote, "Glad to have welcomed President Lee on his first visit to India. His life and work are inspiring examples of service and dedication. Making this visit more special is the fact that this is the first visit by a President of the Republic of Korea in 8 years. Our nations are bound by shared values and a common outlook on the Indo-Pacific region."

Prime Minister Modi said India and South Korea have agreed to deepen cooperation across key sectors and set an ambitious target to take bilateral trade to USD 50 billion by 2030, following talks with South Korean President Lee during his ongoing visit to India.

"Our talks today covered ways to deepen cooperation in various sectors ranging from chips to ships, from talent to technology, from entertainment to energy. We have taken numerous important decisions to take bilateral trade to fifty billion dollars by 2030," the post read.

"We had detailed discussions on expanding our cooperation in AI, semiconductors, steel and ports. We also spoke about adding momentum to cultural and people-to-people linkages," the post further read.

He also highlighted the growing economic partnership between India and South Korea, emphasising opportunities in future-ready sectors and sustainable development.

"The India-Korea Business Leaders' Dialogue highlighted the immense potential of our economic partnership across diverse sectors. Our cooperation can drive growth and prosperity in both nations. Our focus remains on strengthening supply chains, supporting future-ready sectors and creating opportunities for our youth," in another post, PM wrote.

He underscored the importance of sustainable development, thanking South Korean President Lee for participating in the 'Ek Ped Maa Ke Naam' initiative by planting a Sita Ashok sapling during his visit to India.

"Furthering sustainable development and ensuring a better planet. Grateful to President Lee for planting a Sita Ashok sapling, strengthening the 'Ek Ped Maa Ke Naam' (A tree for Mother) initiative," PM Modi wrote.

- ANI

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Reader Comments

S
Sarah B
The $50 billion trade target is ambitious but achievable. Korea's expertise in electronics and heavy industry complements India's strengths in IT services and a growing consumer market. A win-win partnership for sure.
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Priya S
Love the cultural touch with the tree planting! 'Ek Ped Maa Ke Naam' is a beautiful initiative. Beyond just trade, it's important to build these soft connections. Also excited about the mention of entertainment cooperation - maybe we'll see more K-drama and Bollywood collaborations soon! 💚
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Rohit P
Shared Indo-Pacific vision is the key point here. With China's assertiveness, it's crucial for democracies like India and South Korea to align strategically. This partnership strengthens regional security and balances power dynamics. Good diplomatic move.
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Karthik V
While the announcements sound great, I hope the focus on "chips to ships" translates into actual technology transfer and not just assembly units. We need to move up the value chain. The proof will be in the implementation of these agreements.
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Nisha Z
As a professional in the tech sector, the emphasis on AI and talent partnership is most welcome. Korean companies can offer great opportunities for Indian engineers, and we can collaborate on cutting-edge R&D. Let's hope for easier visa processes for skilled workers too!

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