India and South Korea are holding talks to upgrade their existing trade arrangement in an effort to address a widening bilateral trade deficit. Multiple outlets report that the countries are negotiating revisions to the India-Korea Comprehensive Economic Partnership Agreement, which has been in force since 2010. The agreement is described as 16 years old, and both sides aim to modernise it rather than negotiate a completely new framework.
According to the reports, the negotiations focus on narrowing the trade gap and expanding bilateral cooperation, including in higher-value and high-technology areas. The discussions are framed as a “latest round” of talks, indicating that the governments are working through a process to revise the terms of the trade pact.
No details are provided in the excerpts on specific measures such as tariff changes, market-access commitments, or sector-by-sector targets. The reports also do not specify timelines for concluding the upgrade. Overall, the sources agree that both countries are working to update the long-standing trade agreement to better reflect current trade patterns and economic priorities.
