‘India an ultra-high-speed growth country’: South Korea’s Lee ahead of meeting with PM Modi

South Korean President Lee Jae Myung called India an “ultra-high-speed growth country” ahead of his meeting with Prime Minister Narendra Modi in New Delhi on Monday, as both sides look to deepen economic cooperation.

“India, the world’s most populous and ultra-high-speed growth country. If you look closely, there are truly many things that benefit both countries without forcing or taking by force,”
Lee wrote on X.

세계 최대인구 초고속 성장국가 인도입니다.

잘 찾아보면, 억지로 뺏지 않아도 양국 모두에 이익되는 일들이 참 많습니다.

평화와 민주주의를 사랑하는 인도와 함께 찬란한 미래를 열어갑시다.

잘 챙겨 돌아가겠습니다. pic.twitter.com/ybMQKN9WVd

— 이재명 (@Jaemyung_Lee) April 20, 2026

Focus on boosting economic ties

Lee’s visit marks the first state visit by a
South Korean President to India in eight years, with discussions expected to centre on strengthening cooperation in sectors such as shipbuilding. He is on a three-day visit to India. Lee Jae Myung will meet President Droupadi Murmu and hold discussions on further strengthening bilateral cooperation.

Speaking at a dinner with members of the Korean community in New Delhi, Lee said, “The level of economic cooperation between South Korea and India is still very low.”

“Going forward, we will expand that space and ⁠make the relationship between South Korea and India completely different from what it is now.”

Trade and partnership goals

The two countries are working to upgrade their Comprehensive Economic Partnership Agreement, with a target of nearly doubling bilateral trade to $50 billion by 2030 from $25.7 billion last year, according to presidential adviser Wi Sung-lac.

During the visit, Lee is also expected to attend business engagements with corporate leaders. Potential areas for collaboration include finance, artificial intelligence and defence.

Lee said supply chain instability and global economic pressures linked to the Iran war could make the two countries “the most important strategic partners” for each other. He added that India has evolved beyond being just a consumer market and is now a key player in global production and supply chains.

Last month, South Korea sought increased naphtha supplies from India to offset potential disruptions arising from tensions in West Asia.

India accounted for about 8 per cent of South Korea’s naphtha imports last year. South Korean Trade Minister Yeo Han-koo said higher imports could also help reduce trade imbalances between the two countries.

Trade imbalance and future sectors

South Korea recorded a $12.8 billion trade surplus last year, with exports worth $19.2 billion and imports of $6.4 billion, according to Korea International Trade Association data.

At a policy seminar in Seoul, Maeng Hyun-chul of Seoul National University’s Asia Center said India has long raised concerns over a widening trade deficit with South Korea and noted that political ties have lagged behind commercial relations.

He said shipbuilding could become a key area of cooperation, aligning with India’s focus on job creation and South Korea’s industrial strengths. Growth opportunities were also seen in food and consumer sectors linked to the popularity of Korean culture.

Lee is scheduled to travel to Vietnam after concluding his visit to India.