Promising Response To India-South Korea Defence Industry Cooperation Seminar & Mini-Expo In Seoul
New Delhi, 8th July 2024- PHDCCI in association with the Embassy of India in Seoul and the Department of Defence Production, Government of India organized the “India-South Korea Defence Industry Cooperation Seminar” on 4 July 2024. This meaningful and timely Seminar for promoting bilateral defence industry cooperation was also supported by Korea Defence Industry Association (KDIA), Defence Acquisition Program Administration (DAPA) and Agency for Defence Development (ADD) of Ministry of National Defence of Korea.
Addressing a gathering of almost 140 people, represented by 50 plus Korean defence companies and 12 Indian companies, the Ambassador of India to Seoul, HE Mr. Amit Kumar highlighted the special strategic partnership between the two nations and gave valuable insight on the wide-ranging contours of bilateral relations between India and South Korea, of which defence industry cooperation forms an important part. The joint venture of K9 Vajra howitzers between L&T and Hanwha Group is a success story of this collaboration which needs replication in other platforms as well. It is to be noted that both the nations signed the MOU on Roadmap to Defence Industry Cooperation in 2020 and immense scope exists to take this agreement to a meaningful conclusion.
The Vice President of Korea Defense Industry Association, Mr. Choi Byungro and the speakers from Ministry of National Defense of South Korea gave insights into their defence sector. The inputs on Korea’s defence R&D and its offset policies were fruitful for the Indian representatives. Addressing the audience, the Defence Attaché of India, Col Ashish Gairola provided nuanced overview of India’s defence industry ecosystem and opportunities of investment in India defence sector. The talks by all speakers were well received amongst the gathering. PHDCCI, under Dr. Nasir Jamal, Senior Secretary had led the Indian delegation and provided an interface in collaboration with KDIA. The Chamber extended an invite to the Vice President of KDIA to lead a similar Korean delegation to India, which was assured by the Vice President.
The key objective of this delegation through this defence cooperation seminar and B2B interaction, is to explore diverse business prospects for Indian Defence enterprises within the rapidly expanding Defence sector of the South Korea. The strengthening strategic partnership between India and the South Korea emphasizes a comprehensive engagement aimed at bolstering military relations and regional security. Additionally, this initiative aligns with the Government of India’s objective to increase Defence exports to USD 5 billion by 2025.
India will be participating in Korea’s defence expo, KADEX in October this year and it is learned from interactions that Korean companies will also plan participation in India’s Def Expo or Aero India in future. Post seminar the representatives had dedicated interactions, exchange of ideas and witnessed selected defence equipment which was on display, from both sides. The event lays a strong foundation for future engagements.
Indian defence companies presented detailed insights into their products and technologies, expressing interest in business and collaboration with their South Korean counterparts. Some of the key participating Indian companies included Bharat Earth Movers Limited (BEML), Larsen & Toubro, DCM Shriram Industries Ltd.,MKU Ltd., Sentinel Precision Ltd., Global Energy Solutions, Crimson Energy Experts, Rotary Connectors, AeroShul Technologies, Raamtel Solutions comprising of DPSUs, leading private Indian defence companies, MSMEs and Start-Ups.