1. On March 6, Kim Hee-sang, Deputy Minister for Economic Affairs at the Ministry of Foreign Affairs of the Republic of Korea, met with a delegation of Indian business leaders who are members of the Confederation of Indian Industry (CII) during their visit to Korea. The meeting provided an opportunity to explore avenues for deepening economic cooperation, enhancing bilateral trade and investment, and fostering stronger ties between the two nations.

※ Established in 1895, the Confederation of Indian Industry (CII) is India’s largest and most prestigious business organization, representing more than 9,000 member companies across both the public and private sectors. The CII delegation’s visit to Korea from March 5 to 6 was facilitated by the Korea International Trade Association (KITA), underscoring the growing momentum in Korea-India economic engagement.

2. Deputy Minister Kim welcomed the delegation, highlighting the significance of their visit as it coincides with the 52nd anniversary of diplomatic relations between Korea and India and the 10th anniversary of the Korea-India Special Strategic Partnership. He noted that as India is emerging as the world’s most populous nation and the fifth-largest economy, with a sustained annual economic growth rate of over 7%, the Korean government and businesses are keenly interested in expanding economic cooperation with India. In this regard, he expressed sincere hope that the CII would play a pivotal role in fully harnessing the potential of bilateral economic cooperation.

3. Mr. Shiv Siddhant Kaul, Chairman of the CII Korea Council and Managing Director of Nicco Engineering Services Ltd, emphasized the significance of this visit, during which the delegation engaged with key representatives from the Korean government and business sector. He underscored that Korea-India economic cooperation has been a driving force behind post-pandemic economic recovery and expressed confidence that collaboration between the two countries' business communities and governments would continue to deepen, facilitating trade and investment expansion.

4. During their discussions, Deputy Minister Kim and the CII delegation reviewed key developments, including the steady growth in bilateral trade, the status of major investment projects, and the ongoing negotiations for the upgrade of the Korea-India Comprehensive Economic Partnership Agreement (CEPA). Both sides reaffirmed their commitment to deepening economic ties, grounded in shared values of democracy and a market economy.