2 months ago
38
ARTICLE AD BOX
Union curate of commerce and manufacture Piyush Goyal connected Friday held talks with Yeo Han-Koo, commercialized curate of South Korea, to research ways to fortify economical ties, boost bilateral investments and deepen supply-chain collaboration betwixt the 2 countries.
The gathering focused connected expanding commercialized engagement and reinforcing the broader economical concern betwixt India and South Korea.Sharing details of the gathering successful a station connected societal media level X, Goyal said “Held a gathering with Mr Yeo Han-Koo, Trade Minister, Republic of Korea. We had constructive discussions connected strengthening the India-Korea economical partnership. Also discussed ways to deepen trade, promote greater manufacturing and exports from India, and unlock caller opportunities for our businesses.”
He further noted that some sides reaffirmed their committedness to enhancing concern flows, expanding supply-chain collaboration and moving towards a much mutually beneficial commercialized relationship. "Both sides reaffirmed their committedness to enhancing investment, expanding supply-chain collaboration, and moving towards a much mutually beneficial commercialized relationship," helium wrote.
India and South Korea stock longstanding humanities and taste connections that span much than 2 millennia.
The 2 countries formally established diplomatic relations successful 1973 and person steadily expanded their economical engagement since then.South Korea besides remains an important capitalist successful India. The Republic of Korea ranks arsenic India’s 13th largest overseas nonstop concern (FDI) capitalist betwixt April 2000 and March 2025, with full investments amounting to $6.69 billion.Key sectors attracting Korean investments see metallurgy, automobiles, electronics, premier movers, instrumentality tools, arsenic good arsenic hospitals and diagnostic centres.
According to information from the section of commerce nether the ministry of commerce and industry, bilateral commercialized betwixt India and South Korea stood astatine $26.89 cardinal successful FY25. Economic practice betwixt the 2 countries continues to grow, with bilateral figures expected to scope $50 cardinal by 2030.During FY25, India’s exports to South Korea stood astatine $5.82 billion, with astir 3,200 commodities shipped to the Korean market. Major exports from India to South Korea included engineering goods valued astatine $2.6 billion, petroleum products worthy $964 million, integrated and inorganic chemicals valued astatine $730 million, different items worthy $205 million, and drugs and pharmaceuticals amounting to $187 cardinal successful FY25.
