The evolving global landscape – shaped by escalating geopolitical frictions has no doubt created multiple and complex challenges for the global economy. On the other hand, it creates unique opportunities for India and the Republic of Korea (ROK) to strengthen their strategic economic ties. With 2025 marking a decade of the “Special Strategic Partnership” between the two nations, it is an opportune moment to assess progress and envision future cooperation.
While economic cooperation between India and the ROK has grown significantly, with bilateral trade reaching record levels over the past decade, notable asymmetries remain. India continues to face a substantial trade deficit, with considerable untapped export potential to the ROK, whereas South Korean investments are largely concentrated in consumer-oriented sectors, and Indian investment into South Korea remains minimal.
Against this backdrop, this policy brief – drawing insights from a one-day dialogue organised by ICRIER and IRKFS – highlights key trends in India-ROK economic engagement, identifies emerging sectors for collaboration such as shipbuilding, semiconductors, fintech, new technologies, and green energy, and offers strategic recommendations for cooperation. To unlock India’s significant untapped potential and catalyse a “second wave” of high-tech South Korean investment, the brief proposes targeted measures focused on creating a holistic, transparent and predictable business ecosystem in India, ensuring genuine technology transfer, strengthening strategic engagements in third countries and regions, and revitalising bilateral platforms. By addressing regulatory challenges, fostering innovation, and leveraging shared democratic values, India and the ROK can build a more resilient, balanced, and future-ready strategic economic partnership.
