New Delhi [India], April 20 (ANI): Prime Minister Narendra Modi on Monday welcomed South Korean President Lee Jae-myung on his maiden state visit to India, describing his life as an inspiring example of struggle and dedication.
Following delegation-level talks in the national capital, Prime Minister Modi and President Lee witnessed the exchange of several MoUs between India and South Korea aimed at deepening bilateral cooperation. The exchange took place during a joint press statement at Hyderabad House, marking a significant milestone in diplomatic engagement between the two nations.
Addressing the media after the agreements were signed, Modi said, “I am delighted to welcome President Lee on his first visit to India. President Lee’s life is an inspiring example of struggle, service, and dedication. Every challenge has only strengthened his resolve to serve the people. Although this is his first visit to India, his affinity for India has been evident since our very first meeting.”
Highlighting the shared democratic foundations underpinning the relationship, the prime minister said the visit marks a crucial step toward a more advanced bilateral framework. “This visit of the President of Korea to India is extremely important. Democratic values, market economy, and respect for the rule of law are in the DNA of both our countries. We also have a common outlook in the Indo-Pacific region,” he said.
Modi emphasized the evolution of ties over the past decade, noting that the partnership is now entering a more advanced phase. “Based on all this, our relations have become more dynamic and comprehensive over the last decade, and today, with President Lee’s visit, we are going to transform this trusted partnership into a futuristic partnership. We will realize new opportunities for cooperation in every field—from chips to ships, talent to technology, environment to energy—and together ensure the progress and prosperity of both countries,” he said.
Turning to the economic dimension, Modi outlined ambitious targets for bilateral trade and announced new mechanisms to facilitate business. “Today, bilateral trade between India and Korea has reached $27 billion. We have taken several important decisions to increase this to $50 billion by 2030,” he noted.
To achieve these goals, the prime minister announced the launch of new platforms aimed at strengthening financial and industrial ties. “To facilitate financial flows between the two countries, we have launched the India–Korea Financial Forum. To strengthen business cooperation, we have formed an Industrial Cooperation Committee,” he said.
Modi also detailed plans to secure technology supply chains and support smaller enterprises seeking to enter the Indian market. “To increase cooperation in critical technology and supply chains, we are starting the Economic Security Dialogue. To facilitate the entry of Korean companies, especially SMEs, into India, we will establish Korean Industrial Townships, and within the next year, we will also upgrade the India–Korea Trade Agreement,” he added. (ANI)
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