India–South Korea Push for $50 Billion Trade Target at Key Bilateral Talks
South Korean President Lee Jae Myung is seeking a major expansion in economic ties with India during his summit with Prime Minister Narendra Modi in New Delhi.
The high-level meeting marks the first visit by a South Korean leader to India in nearly eight years and comes at a time of increasing global economic uncertainty. Both leaders are expected to focus on strengthening cooperation across key sectors such as shipbuilding, artificial intelligence, defence, and finance.
A key objective of the summit is to upgrade the existing economic partnership between the two nations and significantly expand bilateral trade. Officials from both sides are aiming to nearly double trade volumes from around $25.7 billion in 2025 to $50 billion by 2030.
President Lee emphasized India’s growing importance not only as a consumer market but also as a critical player in global supply chains. The talks are also expected to address supply chain resilience, especially in light of disruptions caused by geopolitical tensions in regions like the Middle East.
The visit includes a large business delegation featuring top South Korean conglomerates, highlighting strong corporate interest in India’s expanding economy. Discussions are also likely to touch upon trade imbalances, as South Korea currently enjoys a surplus in bilateral trade.
Experts believe the summit could pave the way for deeper economic integration and open new avenues for collaboration in emerging technologies and manufacturing sectors. The outcome of the talks is expected to play a crucial role in shaping the future of Indo-Pacific economic partnerships.
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