India, South Korea to update CEPA amid widening trade gap
Business
India and South Korea are meeting on May 25, 2026, to update their long-running trade agreement (Comprehensive Economic Partnership Agreement, or CEPA).
India pushed for this review after its trade gap with South Korea kept getting bigger.
Commerce Minister Piyush Goyal brought up the need for changes during talks with his Korean counterpart last month.
India's deficit with South Korea $15.19B
India's trade deficit with South Korea has nearly doubled since 2020-21, hitting $15.19 billion in 2024-25 as exports dropped and imports stayed high.
Both countries now want to double their total trade, from $27 billion to $54 billion, by 2030, aiming for a fairer partnership and stronger economic ties going forward.