New Delhi: India Korea trade gained momentum as leaders set a target to double bilateral trade to USD 54 billion by 2030 during the India–Korea Business Forum.
Republic of Korea President Lee Jae Myung said India remains a key pillar of the global economy. He highlighted the scope to expand trade and stressed collaboration in high-tech sectors. He also called for stronger cooperation in areas such as artificial intelligence and shipping.
Moreover, Union Commerce Minister Piyush Goyal said both countries agreed to fast-track the upgrade of the Comprehensive Economic Partnership Agreement. He added that the plan would improve market access and ease of doing business.
At the forum, both sides signed 16 MoUs to boost cooperation. In addition, they agreed to set up an India–Korea Industrial Cooperation Committee with four working groups.
India Korea trade push backed by CEPA upgrade and investments
Leaders also discussed a Korea-specific industrial township in India. This project will offer plug-and-play infrastructure to attract investments. Therefore, it aims to help Korean firms expand using India’s market and free trade access.
Furthermore, Goyal said India Korea trade currently stands at USD 27 billion. He added that both countries aim for annual growth of about 18% to meet the 2030 target.
He also highlighted sectors such as semiconductors, electronics and green energy. These sectors offer strong potential for joint production and innovation.
Meanwhile, officials said India remains stable despite global challenges. They cited reforms, infrastructure growth and policy support as key strengths.
Leaders also emphasised long-standing ties between the two nations. They said future cooperation would focus on innovation and resilient supply chains.
