“The two leaders welcomed the conclusion of the MOU on India-ROK Industrial Cooperation Committee to bolster bilateral economic ties, expand trade and investment, and unlock new opportunities for collaboration across industry, with focus on bilateral cooperation in sectors such as automobile, shipbuilding, chemicals, semiconductors, telecom equipment, display, secondary batteries; and for cooperating to strengthen supply chains for strategic resources, critical minerals and rare earths; trade of green hydrogen and its derivatives, nuclear power plant projects; and overseas resource development projects.”
At the invitation of Prime Minister Narendra Modi, President of the Republic of Korea (ROK) Lee Jae Myung paid a State Visit to India from 19 – 21 April 2026, marking the earliest visit to India by a Korean President after assuming office. President Lee Jae Myung was accompanied by a high-level delegation including Ministers, Senior Officials and leading CEOs of Korean Companies.
The two leaders held a friendly, fruitful and forward-looking bilateral meeting on 20th April 2026 in New Delhi. They underscored their respective Governments’ commitment to work together in concrete ways in multiple domains to bring lasting prosperity, peace and progress to their peoples and to foster meaningful cooperation among them in a turbulent and fast-changing world. They announced the following Joint Strategic Vision for implementing and adding further content to the India-ROK Special Strategic Partnership in the next five years (2026-2030).
The two leaders welcomed the conclusion of the MOU on India-ROK Industrial Cooperation Committee to bolster bilateral economic ties, expand trade and investment, and unlock new opportunities for collaboration across industry, with focus on bilateral cooperation in sectors such as automobile, shipbuilding, chemicals, semiconductors, telecom equipment, display, secondary batteries; and for cooperating to strengthen supply chains for strategic resources, critical minerals and rare earths; trade of green hydrogen and its derivatives, nuclear power plant projects; and overseas resource development projects.
India’s Maritime Amrit Kaal vision has unleashed new opportunities for long-term and strategic bilateral collaboration with the ROK, a leading shipbuilding and maritime nation. The two sides adopted a Comprehensive Framework for Partnership on Shipbuilding, Shipping and Maritime Logistics and looked forward to its early implementation. The two leaders welcomed and expressed support for a range of B2B collaborations concluded and planned between Indian and Korean businesses for shipyard development, critical infrastructure required for shipyard establishment, port operations, and shipping & maritime logistics in India. They welcomed the opening of office of Korea Marine Equipment Association (KOMEA) in Mumbai, the first such office that will contribute to the development of ancillary ecosystem to support the maritime industry.
The leaders also took note of the successful hosting of the India-ROK Business Forum on 20 April 2026. In order to nurture continuous business engagements, the two sides agreed to hold regular interactions among leading industry associations on the sidelines of the Industrial Cooperation Committee and its Working Groups’ meetings.The two leaders welcomed the announcements made by Indian and Korean businesses for investment and B2B collaboration.
The leaders agreed to foster a more conducive business environment to encourage further investment by Korean and Indian companies in each other’s markets.
The two leaders welcomed the conclusion of an MOU on Cooperation in the field of Small and Medium sized Enterprises (SME). They directed concerned Departments/Ministries to explore ways to extend India-ROK cooperation to the SMEs of the two countries, including activities under the ambit of MOU to connect small and medium businesses to help SMEs to smoothly explore and benefit from the respective markets.
Collaboration between India, a major economy enjoying robust growth in steel industry and the ROK, a technology leader in green steel-making, is of critical importance. They agreed to the establishment of an India-ROK Annual Steel Dialogue, which would focus on boosting trade opportunities, solidifying economic ties and promoting cleaner energy in the steel sector. They also welcomed the signing of an MOU between POSCO and JSW for establishing a 6 MMT Integrated Steel Plant in Odisha.
Source: PIB
