Modi and South Korean President Lee Jae Myung aim to deepen economic ties, expand cooperation across key sectors
New Delhi: India and South Korea have taken a significant step toward strengthening their economic partnership, with Prime Minister Narendra Modi and President Lee Jae Myung agreeing to initiate negotiations to upgrade the Comprehensive Economic Partnership Agreement (CEPA).
The decision followed high-level talks in New Delhi, where both leaders underscored the need to modernise the existing framework in response to shifting global trade dynamics. Originally implemented in 2010, the CEPA has played a key role in boosting bilateral trade. However, both sides now see scope to expand and rebalance economic engagement.
Addressing the partnership, Modi emphasised the importance of collaboration amid global uncertainties. “In this era of tensions, India and South Korea together send a message of stability and cooperation,” he said, adding that the relationship is evolving into a more future-oriented alliance.
Importantly, discussions extended beyond trade. The two countries explored opportunities in areas such as artificial intelligence, semiconductors, shipbuilding, and defence. Modi highlighted the breadth of cooperation, stating that both nations would pursue opportunities “from technology to energy, and from innovation to industry.”
At the same time, both sides reiterated their commitment to a stable and inclusive Indo-Pacific region. Expanding people-to-people ties and strengthening supply chains also featured prominently in the dialogue.
The proposed CEPA upgrade is expected to address existing trade imbalances while unlocking new avenues for growth. As negotiations move forward, both countries aim to build a more resilient and balanced economic partnership.
Also Read: Abhi-Neel Lynching Case: 20 convicted, 25 Acquitted in 2018 Karbi Anglong Killing
