India and South Korea ministers discuss updating 2010 trade pact
Business
India and South Korea are looking to level up their economic relationship with a fresh trade agreement.
At talks in New Delhi, Commerce Minister Piyush Goyal and his Korean counterpart Yeo Han-koo discussed updating their old pact from 2010, aiming to make it fit today's global scene.
Piyush Goyal proposes Korean industrial township
Goyal pitched the idea of a special industrial township just for Korean businesses in India, hoping it'll make it easier for them to set up shop.
Both sides want to double trade between the countries by 2030, shooting for $54 billion, even though there's currently a big trade gap.
They also agreed to tackle tricky nontariff barriers together, so doing business gets smoother for everyone.