Korea-India Economic Forum Held in Hyderabad to Boost Investment in Telangana

The Korea-India Economic Cooperation Forum successfully took place in Hyderabad, fostering enhanced industrial collaboration between the two nations. While inviting Korean companies to invest more in Telangana.

The state government not only promised state-of-the-art infrastructure and talent pool, it also offered a dedicated mechanism to handhold Korean investments. The Telangana government promises world-class infrastructure and talent pool and rolls out the red carpet for Korean companies, inviting them to invest more in the state.

Organized by the Embassy of the Republic of Korea, KOTRA (Korea Trade-Investment Promotion Agency), the India-Korea Business Cooperation Center, and the Honorary Consulate General of the Republic of Korea in Hyderabad with the support of the Confederation of Indian Industry (CII), the event aimed to boost cooperation in various sunrise industries and provided ample opportunities for business networking.

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Suresh Chukkapalli, the Honorary Consul General of the Republic of Korea in Hyderabad, said in India, South Korea continues to dominate some of the sectors that have become household names—Hyundai, KIA, Samsung, etc. In Telangana in the last few years, some of the major Korean brands, such as YoungOne, have moved here. Korean semiconductor company APACT is launching a JV project with ASIP in Hyderabad.

Dr. E Vishnu Vardhan Reddy, Special Secretary for Investment Promotion & External Engagements and VC&MD TSIIC Govt of Telangana discussed Telangana's industrial ecosystem and investment policy.

The forum featured several sessions on successful collaboration cases across different industries. Sanjeev Deshpande, MD & CEO of NTT Data Business Solutions, shared insights on IT collaborations. The semiconductor industry was represented by Venkata Simhadri, CEO of ASIP Technologies. Further presentations were made by Balaji Prabakaran, Head of Product Planning Department at Hyundai Motor India Engineering, and Jayesh Sanghvi, Partner at Ernst & Young, who highlighted other successful collaboration cases.

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Duddilla Sridhar Babu, Minister of Information Technology, Electronics & Communications (ITE&C) and Industries & Commerce (I&C), Telangana, said: “To address specific needs of the Korean companies, the state government not only offers the state-of-the-art infrastructure and talent pool, it will also have a dedicated desk under Invest Telangana Cell to handhold Korean investments and provide single window service.”

C. Shekhar Reddy, immediate past chairman, CII Telangana, and CMD, CSR Estates Ltd., said: “South Korean companies have been actively investing in Telangana, leveraging the state's industrial growth and strategic advantages. This is exemplified by companies like Samsung, which has established a significant manufacturing presence in the region.”

Ms. Jeongseon Lee, Executive Director of the India-Korea Business Cooperation Center at KOTRA, said: “Major transformations are taking place in the global value chain, and these changes can potentially lead to new prospects for collaboration between India and Korea. For example, global companies are expanding their GCC presence, notably in Hyderabad, to leverage India's IT talent. These GCCs are not only playing key roles in back-office operations but are also serving as important innovation centers. Several Korean companies have already followed suit to benefit from these advantages. I hope more companies will join these movements in the coming days.”

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