At a time when the world is grappling with conflicts and rising tensions among nations, India and South Korea convey a message of peace and stability, Prime Minister Narendra Modi said on Monday in a joint press statement with South Korean President Lee Jae Myung.
The statement came after PM Modi and President Myung held a bilateral meeting in New Delhi during the latter's India visit.
"In this period of global tensions, India and Korea together send a message of peace and stability. We are very happy that today, Korea is joining the International Solar Alliance and the Indo-Pacific Oceans Initiative. Through our shared efforts, we will continue to contribute towards a peaceful, progressive and inclusive Indo-Pacific," PM Modi said.
He added that the New Delhi and Seoul have agreed that reforms in global institutions are essential to address global challenges.
Launch of India-Korea digital bridge
PM Modi announced thet begining of the decade-long project between the two nations called the "India-Korea digital bridge. The intiative is aimed at deepening partnerships in artificial intelligence,semiconductors, and information technology.
"We are signing MoUs in areas such as shipbuilding, sustainability, steel, and ports. Through collaboration in the cultural and creative industries, we will also break new ground in film, animation, and gaming. Today's business forum will serve as a platform to transform these opportunities into concrete results," PM Modi announced.
Trade to be increased to USD 50 billion
Speaking at the presser, President Lee said India and South Korea have agreed to increase the current USD 25 billion level of annual trade volume to around USD 50 billion by 2030. Speaking about the Viksit Bharat goal, he said they discussed ways to promote relations and exchanged views on global and regional affairs.
"India has emerged as a leader in the global south. Under your 'Viksit Bharat 2047' vision, India is achieving remarkable development. The Republic of Korea has also evolved as a leader in chip-building, semiconductors and cultural industries," the South Korean president said.
