Indian and South Korean tech collaborations have been gaining momentum, with a notable reference coming from External Affairs Minister S. Jaishankar at the Jeju Forum.
From Shipbuilding to Semiconductors
Jaishankar highlighted the complementarities between the two countries in various fields, saying they have strengths that can complement each other ‘from ships to chips.’ This comment is significant, given the recent push by the Indian government to boost its semiconductor industry and reduce dependence on imported chips.
India’s growing demand for semiconductors is creating opportunities for tech giant Samsung, which has partnerships with several Indian companies, including Bengaluru-based Tata Electronics. Samsung has been investing heavily in India’s chip manufacturing ecosystem, and Jaishankar’s comments suggest that India’s semiconductor ambitions could be a key area for collaboration with South Korea.
A Strategic Partnership
Jai Shankar called for evolving partnerships between India and South Korea to face the challenges of a fragmented global economy. This suggests that both countries see the value in strengthening their ties, particularly in strategic sectors like technology and defense.
India and South Korea already have a robust defense partnership, with Indian companies like Bharat Electronics and Hindustan Aeronautics working closely with South Korean firms like Hyundai and Doosan. The two countries also have a long-standing partnership in the IT sector, with Indian IT companies like Tata Consultancy Services and Infosys having a significant presence in South Korea.
What this means
The strengthened partnership between India and South Korea could lead to more collaborative projects in emerging technologies like 5G, AI, and cybersecurity, benefiting both countries and their industries. With India’s growing demand for semiconductors and South Korea’s expertise in chip manufacturing, the potential for joint ventures and investments is significant. As India continues to push for self-reliance in key sectors, a stronger partnership with South Korea could be a key step in achieving this goal.
