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🇮🇳🇰🇷 India and South Korea signed an important trade

Sibson94 · 2026-04-20T17:06:20.000Z

🇮🇳🇰🇷 India and South Korea signed an important trade agreement this Monday, April 21, aimed at increasing bilateral trade to approximately $50 billion by 2030, which would effectively double the current annual volume. South Korean President Lee Jae Myung spoke with Indian Prime Minister Narendra Modi to deepen trade alliances between these two Asian nations. The upgrade of the Comprehensive Economic Partnership Agreement (CEPA) resulted in the signing of about 15 new documents covering clean energy, artificial intelligence, critical minerals and supply chains, semiconductors, shipbuilding, manufacturing, defense, and digital trade. The two leaders established an India-Korea Industrial Cooperation Committee to focus on investment in industry, trade, strategic resources, and clean energy. To achieve the $50 billion target, bilateral trade must grow at an annual rate of approximately 18% from its current level of 25-27 billion dollars. The partnership reflects India's emergence as the world's fastest-growing major economy, as well as the efforts of major global powers to diversify supply chains away from China. India's long-term development plan, Viksit Bharat 2047 (Developed India 2047), aims to transform the country into a fully developed economy by 2047 by amplifying domestic production, technological leadership, clean energy expansion, and infrastructure development. $HIGH $PROM $PIXEL