India, South Korea Eye JV Projects in Sri Lanka

India, South Korea Eye Joint Development Projects in Sri Lanka, Bangladesh

by Staff Writer 29-12-2023 | 11:19 AM

COLOMBO (News 1st); India and South Korea are exploring joint development projects in neighboring Sri Lanka and Bangladesh, sources familiar with the matter revealed.

This initiative, though in early stages, marks a significant shift in bilateral relations, as Seoul expands its strategic focus beyond East Asia.

The potential for India-South Korea cooperation gained momentum during Prime Minister Narendra Modi's meeting with South Korean President Yoon Suk-yeol on the sidelines of the G20 Summit in September.

Their discussions covered trade, investment, defense, and strategic technologies like semiconductors and battery tech, alongside regional issues and their bilateral Special Strategic Partnership.

With potential projects in Sri Lanka and Bangladesh on the horizon, India and South Korea appear poised to play a more significant role in regional development, shaping the future of the Indo-Pacific's economic and technological landscape.

Source: MINT