PHDCCI and Busan Chamber of Commerce and Industry, South Korea, forge partnership to boost trade

New Delhi, November 04, 2025: The PHD Chamber of Commerce and Industry (PHDCCI) and the Busan Chamber of Commerce and Industry (BCCI), South Korea, signed a Memorandum of Understanding (MoU) in New Delhi to strengthen bilateral trade and industrial collaboration between India and South Korea.
The agreement aims to enhance cooperation in key sectors such as manufacturing, clean energy, digital technology, maritime logistics, and emerging industries, paving the way for increased business exchanges, investments, and knowledge sharing.
Yang Jae Saeng, President, Busan Chamber of Commerce and Industry, expressed gratitude for the warm hospitality extended to the Korean delegation.
“It is truly meaningful to sign this MoU with PHDCCI here in Delhi, the heart of India. Busan is transforming into a global hub for smart logistics, EVs, and digital technology. India’s rapid economic growth and strong manufacturing capacity present valuable opportunities for collaboration,” he remarked.
Yang further highlighted that bilateral trade between South Korea and India reached USD 25.1 billion in 2024, and the MoU will play a pivotal role in promoting deeper trade, technology, and investment partnerships.
Kalyan Swaroop, Co-Chair, International Affairs Committee, PHDCCI, welcomed the Korean delegation and emphasized the government’s efforts to promote investment-friendly policies.
“India offers vast potential in sectors such as EVs, renewables, and maritime industries. We encourage South Korean enterprises to explore these opportunities and become part of India’s growth story,” he said.
Dr. Ranjeet Mehta, CEO and Secretary General of PHDCCI, welcomed the Korean delegation and recalled the two chambers' long-standing collaboration, which dates back to 2016, and has enabled numerous business delegations and exchange programs.
“India is one of the fastest-growing economies in the world, with immense opportunities for collaboration in manufacturing, clean energy, and digital transformation. With South Korea’s advanced technology and India’s growing manufacturing ecosystem, this partnership can foster sustainable and mutually beneficial growth,” Dr. Mehta said.
Addressing the gathering, Naveen Seth, Deputy Secretary General, PHDCCI, reaffirmed the Chamber’s commitment to supporting South Korean enterprises in establishing and expanding their presence in India. “PHDCCI stands ready to extend its full assistance to South Korean companies across all Indian states and to further strengthen the bilateral trade and economic partnership between our two nations,” he stated.
PHDCCI’s Chief Economist, Sanat Kumar, gave a presentation on Indian Economy, highlighting the critical industries where co-operation would result in mutual benefit.
The meeting concluded with both sides reaffirming their commitment to foster stronger business linkages, promote joint ventures, and facilitate industry-to-industry cooperation between India and South Korea.