South Korea eyes major investments in India in coming years: Envoy

IANS April 4, 2025 146 views

South Korea is positioning itself for a major economic engagement with India, focusing on strategic investments in healthcare and manufacturing. The recent launch of Boditech Med's new facility in Haryana symbolizes the growing bilateral economic relationship between the two nations. Ambassador Lee Seong-ho's statement indicates a strong commitment to expanding Korean business activities in India. This development aligns perfectly with India's national initiatives to boost domestic manufacturing and reduce import dependency.

"India's supportive policy environment and healthcare infrastructure make it the perfect place for our expansion" - Eui Yul Choi, Boditech Med CEO
New Delhi, April 4: South Korea is looking to double or even triple its investments and business activities in India in the coming years, Ambassador of the Republic of Korea to India, Lee Seong-ho, said on Friday.

Key Points

1

Korean companies plan significant economic expansion in India

2

Boditech Med opens Rs 50 crore manufacturing facility in Haryana

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Aims to capture 5% of India's in vitro diagnostics market

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Supports 'Make in India' and 'Atmanirbhar Bharat' initiatives

Speaking at the inauguration of Boditech Med Inc’s new manufacturing facility in Haryana’s Model Economic Township (MET City), the envoy highlighted the growing interest among Korean companies in India’s expanding industrial and healthcare ecosystem.

"I see growing signs of Korean companies wanting to expand their business here. We hope to double or even triple Korean investment and business activity in India in the coming years," he said.

"The Korea-India relationship is growing faster in India. Our government is committed to taking this relationship forward and ensuring its growth," he added.

The event marked a major development in the medical devices sector as Boditech Med Inc, a global leader in Point-of-Care (POC) diagnostics, opened its Rs 50 crore facility in Haryana's Jhajjar, under its India arm, Boditech Med India Private Limited.

Spread across 10,032 square metres, the new plant will cater not only to the Indian market but also to export products globally from this facility.

Once fully operational, Boditech aims to capture over 5 per cent of India’s in vitro diagnostics (IVD) market and is eyeing more than Rs 650 crore in revenue from the Indian market alone.

According to MET City, the arrival of Boditech Med has pushed the number of companies operating in the township to over 580 from 10 countries, including six from South Korea.

The development aligns with the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, aimed at strengthening domestic manufacturing and reducing import dependency.

Boditech Med’s Chairman and CEO, Eui Yul Choi, called India a strategic location for global manufacturing.

"India's supportive policy environment and healthcare infrastructure make it the perfect place for our expansion. We are committed to contributing to India’s medical device ecosystem," he said.

Reader Comments

R
Rahul K.
This is fantastic news! More Korean investments mean more jobs and technology transfer for India. The medical devices sector especially needs this boost. 🇮🇳🤝🇰🇷
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Priya M.
While I welcome the investment, I hope the government ensures proper technology transfer and skill development for Indian workers. Too often these partnerships benefit foreign companies more than local talent.
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Amit S.
Korean companies have great quality standards. If they're expanding this aggressively, it shows they see India as a long-term market, not just cheap labor. Big win for Make in India!
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Sunita R.
As someone working in healthcare, we desperately need more diagnostic equipment manufacturers in India. Hope this leads to more affordable medical testing options for rural areas too.
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Karan P.
Interesting how Haryana is becoming an industrial hub. First Japanese companies, now Koreans. The infrastructure there must be improving significantly.
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Neha T.
The Rs 650 crore revenue target seems ambitious but achievable given India's growing healthcare needs. Smart move by Boditech to set up manufacturing here rather than just importing.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:
South Korea India Investment Boditech Med Healthcare Manufacturing Lee Seong-ho Make in India
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