Indian businesses tap into $10b opportunity in South Korea

After a successful debut in Singapore, the second edition of “Tomorrow’s India Global Summit” will focus on developing international collaborations and tie-ups between India and South Korea in the fields of business, education and culture.
India, 9th June 2016: The second edition of “Tomorrow’s India Global Summit” will be held at Seoul, South Korea from 25-29 September. The bi-annual event is being organized by Global Social (India) Foundation, a New Delhi based non-profit. It aims to showcase India’s prowess across the world and act as a catalyst for forging ties in the fields of business, knowledge and culture, and will feature panel sessions, company showcase, industry tours, university visits, and several networking opportunities.

HP Singh, Managing Director & Founder, Tomorrow’s India says, “Besides sharing Independence Day celebrations and having deep historical connects since ancient times, India and South Korea have also solidified business relations over the last two decades with more than 600 Korean companies entering India including several household names like Hyundai, LG, Samsung, Lotte and Kumho. Now is the best time for Indian businesses to forge new partnerships with South Korea committing to provide $10 bn for infrastructure, smart cities, railways, power generation and other diversified projects in India. Under Prime Minister Narendra Modi’s leadership, India has already signed at least seven bilateral agreements with South Korea. We have elevated our bilateral ties to the level of a special strategic partnership, which opens up opportunities in electronics, steel, manufacturing, maritime, and R&D. Both countries have also made rapid strides in tax reforms and expediting port connectivity to ensure ease of doing business”.

Yogesh Chopra, CEO of Global Social (India) Foundation adds, “Next month, India and South Korea are resuming negotiations to take the Comprehensive Economic Partnership Agreement (CEPA) to the next level. Opportunities in education are equally immense with industry reports suggesting that India currently attracts merely 300 Korean students as compared to 50,000 Koreans studying in China. Both the countries have also signed an agreement on cooperation in audio-visual co-Production of films, animation and broadcasting programmes.”

Earlier this year, Tomorrow’s India Singapore edition was attended by over 350 business leaders from Singapore, Australia, Korea and Japan along with 100 heads of Indian businesses. Some of the prominent people present at the event included India’s High Commissioner to Singapore Her Excellency. Vijay Thakur Singh; Ambassador Gopinath Pillai, Ambassador-at-large for the Government of Singapore; Chairmen of Institute of South Asian Studies at National University of Singapore; Suneeta Reddy, Apollo Group; A Velumani, Thyrocare; Pramath Sinha, Ashoka University; and prominent Indian ad film director Prahlad Kakkar. Partners included Singapore Economic Development Board (EDB), Singapore Exhibition & Convention Bureau (SECB), Singapore Tourism Board (STB), Global Cultural Alliance (GCA), India Retail Forum (IRF) and others.

On the knowledge front, the event showcased Singapore’s special platform for start-ups and young entrepreneurs, Action Community for Entrepreneurship (ACE), Nanyang Technical University, National University of Singapore and Temasek Polytechnic. Participants from India included JK Business School, Amity University, University of Delhi, Mumbai University, Vivekananda Institute of Professional Studies, Lovely Professional University, IBS Business School, Pearl Academy – Design College, School of Planning and Architecture and Galgotias University.