Prime Highlights
- India invited Korean companies to expand investments into emerging sectors such as semiconductors, clean energy, green hydrogen, and critical minerals.
- Ambassador Gourangalal Das highlighted India’s strong economic growth and business reforms as key drivers of new opportunities for foreign investors.
Key Facts
- India recorded 7.8% GDP growth in the January–March quarter, reinforcing its position among the world’s fastest-growing major economies.
- India and South Korea are deepening cooperation in shipbuilding, batteries, telecommunications, biotechnology, and carbon-reduction technologies.
Background
India’s ambassador to South Korea called on Korean companies to move beyond their traditional investments in the country and tap into newer sectors like semiconductors, clean energy, and critical minerals.
Gourangalal Das made the remarks at the Global Business Forum in Seoul, organized by Herald Media Group. Speaking to business leaders and industry experts, Das said India remains a “stable, steady and focused player” even as global markets deal with geopolitical tensions, technological shifts, and demographic changes.
He pointed to India’s 7.8 percent GDP growth in the January to March quarter, describing it as the world’s fastest-growing major economy. Ongoing reforms to improve the business environment and the opening of sectors like defense, space, and nuclear energy to private players were creating fresh ground for foreign investors, he said.
Das urged Korean firms to look past electronics, automobiles, and home appliances, and instead explore areas such as renewable energy, green hydrogen, advanced manufacturing, and critical minerals.
He also cited agreements reached during a recent summit between Prime Minister Narendra Modi and President Lee Jae Myung, which covered shipbuilding, maritime logistics, batteries, telecommunications, biotechnology, and carbon reduction.
Wrapping up his address, Das used the Korean phrase “palli-palli,” meaning hurry up, to encourage quick action from business leaders present at the event.
The forum also featured Daewoo Engineering and Construction Senior Vice President Lee Kang-seok, who said the company plans to raise its share of overseas business from 25 percent to 75 percent by 2035.
The firm is currently active in energy, infrastructure, and urban development projects across Africa, Southeast Asia, and Central Asia. Architect Hong Tae-sun of YKH Associates closed the event with a talk linking architectural design to musical principles, drawing on his experience in both fields.