India-Korea Business Forum Highlights Vision for Global Cooperation and Innovation

The 8th India-Korea Business Partnership Forum, jointly organized by the Confederation of Indian Industry (CII) and the Korea International Trade Association (KITA), convened today in New Delhi, marking a significant milestone in the evolving economic and strategic partnership between India and the Republic of Korea.

Addressing the Forum, H E Mr Jongwon Park, Hon’ble Deputy Minister for Trade, Government of the Republic of Korea, emphasized the transformative potential of India-Korea collaboration. “When one and one come together, they become eleven. If India and Korea enhance their partnership in a mutually beneficial manner, we will be able to create synergy far greater than eleven,” he remarked. Mr Park outlined three strategic directions to deepen bilateral ties.

First, Strengthening Industrial Cooperation: Leveraging the complementary industrial structures of both nations, Korea aims to align with India’s Make in India initiative to build stable manufacturing ecosystems and secure new growth engines. The launch of the Korea-India Industrial Cooperation Committee, in consultation with both governments, will further support cross-border partnerships.

Second, Upgrading the CEPA: He called for the swift conclusion of the ongoing negotiations to upgrade the India-Korea Comprehensive Economic Partnership Agreement (CEPA), aiming to enhance liberalization rates and rule standards for a more robust and dynamic economic relationship.

Third, Expanding Global Cooperation: Highlighting Korea’s New Southern Policy and India’s Act East Policy, Mr. Park stressed the importance of joint efforts on the global stage to amplify their strategic influence and foster regional stability.

H E Mr Seong Ho Lee, Hon’ble Ambassador of the Republic of Korea to India, underscored the importance of Korean companies investing in India’s local supply chains and R&D. He advocated for a “second wave” of collaboration, particularly in shipbuilding, semiconductors, and MSMEs, and emphasized expanding cooperation into strategic sectors such as nuclear energy, space, AI, and defense.

Mr Seokmin Chang, Executive Vice President, KITA, announced plans to establish the Korea-India Exchange Committee, which will serve as a counterpart to the Korean Committee of CII and act as a dialogue platform for business leaders from both nations.

Mr R Mukundan, President Designate, CII and Managing Director & CEO, Tata Chemicals Limited, identified automotive, digital economy, and sustainability as key areas for collaboration. He noted that India’s transition to renewable energy presents new opportunities for technology cooperation.

Mr Shiv Siddhant Kaul, Hon. Consul General, Republic of Korea, Co-Chairman, CII Korea Council, and Managing Director, Nicco Engineering Services Limited, highlighted the role of entrepreneurship and green technology in driving future partnerships.

The Forum reaffirmed the shared commitment of India and Korea to deepen economic cooperation and explore new frontiers in trade, technology, and strategic engagement.

30 October 2025

New Delhi