India, South Korea to renegotiate trade pact amid global disruptions
India and South Korea plan to renegotiate their trade pact to tackle global trade challenges. Both nations aim to strengthen economic ties through improved cooperation and balanced trade
- Apr 20, 2026,
- Updated Apr 20, 2026, 3:03 PM IST
Prime Minister Narendra Modi and South Korean President Lee Jae Myung on April 20 agreed to begin negotiations to upgrade the existing Comprehensive Economic Partnership Agreement (CEPA), signalling a push to deepen economic ties as geopolitical tensions disrupt global trade.
The decision followed bilateral talks between the two leaders, with both sides emphasising the need for a more resilient and forward-looking partnership. The CEPA, in force since 2010, had earlier accelerated trade and investment flows between the two economies.
Addressing the outcome of the meeting, PM Modi said, “In this era of global tensions, India and South Korea together convey a message of peace and stability.” He added that the visit would help “transform our trusted collaboration into a futuristic partnership.”
Both countries also reiterated their commitment to maintaining stability in the Indo-Pacific region, with a shared focus on inclusivity. “Through our shared efforts, we will continue to contribute to a peaceful, progressive, and inclusive Indo-Pacific,” Modi said.
Discussions covered a broad range of sectors, including trade, investment, artificial intelligence, semiconductors, and other critical and emerging technologies. Expanding people-to-people exchanges also featured on the agenda.
Highlighting the scope for cooperation, Modi noted, “From chips to ships, talent to technology, entertainment to energy, we will realise new opportunities for cooperation in every sector.”
The proposed upgrade of the CEPA is expected to address current trade challenges while unlocking new areas of collaboration between the two countries.