Commerce and Industry Minister Piyush Goyal said that bilateral trade between India and Korea currently stands at 27 billion dollars, with a shared goal of doubling this figure over the next four years.

 

Addressing the Opening Session of India-Korea Business Forum in New Delhi today, He described the visit as a defining step toward launching a new chapter in the relationship. He informed that both nations have agreed to upgrade their comprehensive economic partnership by addressing key non-tariff barriers, simplifying business processes, and creating opportunities for a more balanced economic relationship.

 

The Commerce and Industry Minister said that India and Korea share a long-standing relationship that stretches back thousands of years, built on trust, shared democratic values, and deep civilisational ties. He noted that Korean firms are actively contributing to India’s growth by offering a wide range of products and services.

 

Mr Goyal said that despite global uncertainties, India stands as an oasis of stability. He added that currently a 4 trillion dollar economy, India is projected to grow into a 30 trillion dollar economy by 2047, presenting vast opportunities for businesses to expand and thrive as part of this journey.