India, South Korea hold 12th round of CEPA upgrade talks in New Delhi

New Delhi ( The Indian View team) : India and the Republic of Korea held the 12th round of negotiations for upgrading the India-Korea Comprehensive Economic Partnership Agreement (IK CEPA) in New Delhi from May 25 to 27, reaffirming their commitment to a balanced and future-oriented trade partnership.

The negotiations were held pursuant to the Joint Declaration signed on April 20, 2026, by Union Commerce and Industry Minister Piyush Goyal and Korean Trade Minister Yeo Han-koo during the State Visit of the President of the Republic of Korea to India. Both sides had agreed to accelerate the CEPA upgrade negotiations.

The talks were co-chaired by Kapil Chaudhary, Joint Secretary in the Department of Commerce, Ministry of Commerce and Industry, and Park Geun-oh, Director General for Trade Agreement Policy at South Korea’s Ministry of Trade, Industry and Energy (MOTIE).

According to the Ministry of Commerce and Industry, the discussions were conducted in a constructive and cooperative spirit, reflecting the strong bilateral relationship and the “Futuristic Partnership” envisioned by Prime Minister Narendra Modi and South Korean President Lee Jae-myung.

Both countries reviewed the progress achieved in the negotiations and acknowledged India’s growing bilateral trade deficit since the IK CEPA came into force in 2010. The two sides agreed to address the issue within the broader CEPA framework.

India and South Korea also decided to constitute sub-groups to explore cooperation in digital trade, supply chain cooperation, and strategic industrial cooperation. The two countries reaffirmed their commitment to concluding the CEPA upgrade negotiations in a time-bound manner with the aim of achieving a modernised and mutually beneficial agreement that supports balanced bilateral trade and deeper economic cooperation.