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Business News Today: Latest Business News, Finance News

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India and South Korea expand defence partnership with MoU...
2026-05-21 · via Business News Today: Latest Business News, Finance News

Defence Minister Rajnath Singh and Minister of National Defence of the Republic of Korea (RoK) Ahn Gyu-back held comprehensive bilateral discussions in Seoul on May 20.

According to the Ministry of Defence, the two Ministers reviewed the entire spectrum of defence cooperation and discussed ways to further expand collaboration in areas such as industry, production, maritime security, emerging technologies, military exchanges, logistics & regional security.

Both sides acknowledged the growing convergence between India’s Act East Policy and RoK’s regional strategic vision, reiterating their commitment to strengthening defence ties in line with the shared objectives of maintaining a free, open, inclusive and rule-based Indo-Pacific.

MoUs signed and expanding defence cooperation framework

Memoranda of Understanding (MoUs) were inked in key areas of defence cooperation, reflecting the expanding scope and depth of the bilateral partnership. Agreements were exchanged on promoting cooperation in the field of Defence Cyber; training between India’s National Defence College and Korea National Defence University; and UN Peacekeeping Cooperation, making the partnership stronger and multidimensional.

Singh also met Minister of Defence Acquisition Program Administration, Republic of Korea Lee Yong-chul, with both leaders agreeing to harness the symbiotic efforts to create avenues for joint development, joint production and joint exports.

A roadmap to unlock the potential of the India-Korea Defence Innovation Accelerator Ecosystem (KIND-X) to synergise the innovation ecosystems of the two countries was discussed.

Later, Rajnath Singh chaired the India-RoK Defence Industry Business RoundTable, which brought together senior government officials and leading defence industry representatives from both countries. The interaction provided an important platform for exploring new opportunities in defence manufacturing, co-development, co-production and supply chain partnerships.

Addressing the business leaders, the Defence Minister highlighted India’s growing defence industrial ecosystem and the opportunities available under the Prime Minister Narendra Modi-led Government’s initiatives aimed at promoting indigenous defence manufacturing and global partnerships. He invited Korean defence companies to strengthen engagement with the Indian industry and contribute towards long-term, mutually beneficial collaboration. He appreciated the enthusiasm of Korean and Indian companies to jointly play a pivotal role in the Aatmanirbhar Bharat initiative.

“The success of India-Korea industrial cooperation in the commercial sector demonstrates the enormous potential of long-term trusted partnerships between the two countries. The time has now come to extend this successful model into the defence sector, where technology, innovation, manufacturing capability, and strategic trust are becoming increasingly interconnected. Korea’s technological excellence, combined with India’s scale, talent, manufacturing ecosystem, and innovation capabilities, creates a powerful foundation for cooperation. Together, our two countries can jointly develop and produce advanced technologies and defence systems for the future. Trusted partnerships between technologically capable nations acquire immense strategic importance. India and RoK are uniquely positioned to work together in this changing global landscape,” said Rajnath Singh.

Singh highlighted that defence manufacturing is no longer confined only to conventional platforms and equipment, as modern defence ecosystems are powered by advanced electronics, artificial intelligence, autonomous systems, cyber technologies, sensors, semiconductors, quantum technologies, advanced materials, and space-based capabilities.

He added that the future of defence will increasingly depend upon the ability to innovate rapidly and integrate technologies across multiple domains. This, he stated, is precisely where India and RoK possess enormous potential for collaboration.

Rajnath Singh stressed that India possesses a vibrant innovation ecosystem comprising start-ups, MSMEs, private industry, academia, research institutions, and public sector enterprises.

“Young Indian entrepreneurs are increasingly contributing to advanced technology domains including unmanned systems, AI-enabled platforms, cyber security, advanced communications, and defence software systems. The future of India-Korea defence cooperation lies in innovation-led collaboration,” he said.

Industry agreements and technology partnership push

During the event, two agreements between L&T, India, and Hanwa Co Ltd were also signed, signalling a promising future for India-Korea defence innovation and technology partnership. The agreements are expected to facilitate enhanced collaboration between the defence industries of both countries and promote technology cooperation and capacity building.

India’s global rise, self-reliance and strategic messaging

Interacting with the Indian diaspora in RoK, the Defence Minister underscored the rise in India’s global stature due to unprecedented progress under the leadership of PM Modi. “12-13 years ago, India was perceived as a weak nation, but today, due to the transformation the country has undergone in the last decade, the world carefully listens to what we have to say. We’re now emerging as a global power that offers solutions to the world. Whether internal or external security, our policy has undergone a fundamental transformation; it has become assertive, bold, consistent, and decisive,” he said.

Rajnath Singh described Operation Sindoor as a testament to India’s transformation into a strong, confident & capable nation. Operation Sindoor “The operation was proof that India will not tolerate terrorism in any form. As a responsible nuclear power, we firmly adhere to a policy of No First Use. However, there are times when people mistake our restraint and commitment to peace for weakness. While India remains committed to its No First Use policy, it will not tolerate any form of nuclear blackmail. This is New India,” he said.

Singh reiterated the Government’s commitment to achieve self-reliance in defence manufacturing, stating that the all-time high figures of approx Rs 1.54 lakh crore worth of defence production and nearly Rs 40,000 crore worth of defence exports in the Financial Year 2025-26 are results of persistent efforts. He added that defence exports are poised to reach Rs 50,000 crore within the next 1-2 years, while defence production is projected to rise to Rs 1.75 lakh crore in the next couple of months.

Tribute at Korean War Cemetery

Singh further began his visit to RoK, the final leg of his two-nation tour, by laying a wreath at the Korean War Cemetery in Seoul to pay homage to the brave soldiers who made the supreme sacrifice during the Korean War. He conveyed India’s solidarity with the people of RoK and stated that their courage, dedication & spirit of patriotism remain an enduring source of inspiration.

Published on May 21, 2026