India a Key Pillar of Global Economy: President of the Republic of Korea (ROK

President of the Republic of Korea (ROK), H.E. Lee Jae Myung, today said that India, as the world’s fourth-largest economy and home to 1.4 billion people, stands as a key pillar of the global economy.

Addressing the India–Korea Business Forum in New Delhi, he noted that there is significant scope to further expand business and trade, adding that bilateral trade has considerable room for growth and, with sustained efforts, is expected to double alongside ongoing negotiations on the Comprehensive Economic Partnership Agreement.

He emphasized the need to prepare high-tech industries for the future through collaboration and by leveraging India’s strengths in artificial intelligence. He further stated that cooperation in the shipping sector will be strengthened.

The President also underlined the importance of moving beyond economic cooperation to build strong people-to-people trust between the two countries.

Union Minister of Commerce and Industry Piyush Goyal while addressing the opening session of the India–Korea Business Forum highlighted the signing of the Memorandum of Understanding (MoU) on the India–Korea Industrial Cooperation Committee, comprising four working groups on trade, industry, strategic resources, and clean energy, as a landmark step towards strengthening bilateral economic engagement. A total of 16 MoUs were signed today at India Korea Business Forum.(UPDATED ON 20TH APRIL 2026)