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Trade uncertainty with the U.S. and the push to diversify away from China make India and South Korea natural partners — but their relationship has yet to translate from intent into meaningful execution.
On Monday, the Indian Prime Minister Narendra Modi and South Korean President Lee Jae Myung reaffirmed plans to increase bilateral trade to $50 billion by 2030, a goal that was first announced in 2018.
Modi, in a joint press statement, said that the two countries were moving from a “trusted partnership” to a “futuristic” one where areas of collaboration spanned “chips to ships, talent to technology, and environment to energy.”
Jae Myung, the first South Korean president to visit India in eight years, added that in “an era of hyper uncertainty,” the two countries can be “the most ideal partners for comprehensive cooperation to promote mutual growth and Innovation.”
