<p>New Delhi: India and Korea on Monday discussed revamping the existing free trade agreement between the two countries to boost economic ties.</p>.<p>The pact was discussed during a meeting between Commerce and Industry Minister Piyush Goyal and his Korean counterpart Yeo Han-koo.</p>.<p>"We discussed ways to resume and revamp the India-Korea <a href="https://www.deccanherald.com/tags/comprehensive-economic-partnership-agreement">CEPA</a> (comprehensive economic partnership agreement) upgrade negotiations and explored opportunities for deeper cooperation in industrial cooperation, green energy and digital trade," Goyal said in a post on social media.</p>.South Korea to consult with US on 'balance' in trade after ruling against Trump tariffs.<p>The two countries are looking at the upgradation of CEPA, which was operationalised in January 2010. So far, over 10 rounds of review talks have been held.</p>.<p>India has earlier sought greater market access for certain products like steel, rice, and shrimp from <a href="https://www.deccanherald.com/tags/south-korea">South Korea</a> to boost exports of these goods.</p>.<p>India had also flagged issues over Korean firms not buying Indian steel.</p>.<p>India has, multiple times, raised concerns about the growing trade deficit between the two countries.</p>.<p>India's exports to Korea dipped 9.3 per cent to USD 5.81 billion in 2024-25 from USD 6.41 billion in 2023-24. Imports dipped marginally by 0.34 per cent to USD 21 billion in 2024-25. </p>
<p>New Delhi: India and Korea on Monday discussed revamping the existing free trade agreement between the two countries to boost economic ties.</p>.<p>The pact was discussed during a meeting between Commerce and Industry Minister Piyush Goyal and his Korean counterpart Yeo Han-koo.</p>.<p>"We discussed ways to resume and revamp the India-Korea <a href="https://www.deccanherald.com/tags/comprehensive-economic-partnership-agreement">CEPA</a> (comprehensive economic partnership agreement) upgrade negotiations and explored opportunities for deeper cooperation in industrial cooperation, green energy and digital trade," Goyal said in a post on social media.</p>.South Korea to consult with US on 'balance' in trade after ruling against Trump tariffs.<p>The two countries are looking at the upgradation of CEPA, which was operationalised in January 2010. So far, over 10 rounds of review talks have been held.</p>.<p>India has earlier sought greater market access for certain products like steel, rice, and shrimp from <a href="https://www.deccanherald.com/tags/south-korea">South Korea</a> to boost exports of these goods.</p>.<p>India had also flagged issues over Korean firms not buying Indian steel.</p>.<p>India has, multiple times, raised concerns about the growing trade deficit between the two countries.</p>.<p>India's exports to Korea dipped 9.3 per cent to USD 5.81 billion in 2024-25 from USD 6.41 billion in 2023-24. Imports dipped marginally by 0.34 per cent to USD 21 billion in 2024-25. </p>