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India Business Forum 2020

Posted on: October 29, 2020 | Back | Print

Embassy of India

Embassy of India, Seoul partnered with Newsis, the renowned Korean news agency, to organise the India Business Forum 2020 on October 28, 2020. The Forum was arranged with the goal of expanding economic exchanges between India and ROK and spreading awareness in the Korean business and policy making fraternity about the exciting India story.

Prominent Korean and Indian political and business figures participated in the forum, which was broadcast live through online networks. H.E. Mr. Hardeep Singh Puri, Minister of Civil Aviation and Minister of State for Commerce and Industry and H.E. Sung Yun-mo, Minister of Trade, Industry and Energy (MOTIE) gave video keynote speeches during the forum. Presidential Committee on NSP Chairman Mr. Park Bok-yeong emphasized the significance of India as a key partner country within ROK’s NSP.  Newsis President-Publisher Mr. Kim Hyung-ki expressed hope that this business forum will provide a bridge to connect India's look east policy and ROK's new southern policy. Indian Ambassador Sripriya Ranganathan focused on the wealth of opportunities offered by India for Korean investors and corporates.

Niti Aayog CEO Mr Amitabh Kant and Invest India CEO Mr. Deepak Bagla delivered keynote addresses in sessions on opportunities generated for India-Korea collaboration due to digitalization drive in India and investment opportunities in India respectively. Korea SMEs and Startups Agency (KOSME) President, Kim Hak-do, gave a blueprint to increase interaction and mutually profitable ties between Korean SMEs and Indian companies. Panel discussions on topics related to investment opportunities in India and leveraging ROK-India strengths in digital economy in the post COVID-19 era were meaningful with Korean companies with prior experience of the Indian economy and market sharing their insights.

India- ROK bilateral trade has been recorded at more than US$20 billion per annum for the past three years. As on date, over 1300 Korean companies have operations in India. Two way investment amounts to US$ 10 billion. The discussions at the Forum should contribute to significant enhancement of both trade and investment ties between the two countries.