India, S. Korea Aim to Double Trade to USD50B by 2030
The agreement was reached during a meeting in New Delhi between South Korean President Lee Jae Myung and Indian Prime Minister Narendra Modi. Both leaders committed to strengthening economic ties, improving supply chain resilience, and expanding investment flows between the two countries.
Current trade between the two nations stands at approximately $27 billion. The new target reflects a broader push to deepen cooperation across multiple sectors and upgrade the overall strategic economic relationship.
Following the talks, Modi described the next phase of cooperation as a shift toward a more future-oriented partnership, emphasizing expanded collaboration in areas ranging from manufacturing and technology to energy and entertainment.
He highlighted potential opportunities across diverse industries, noting that both countries aim to broaden engagement “from chips to ships, talent to technology, entertainment to energy.”
President Lee also outlined plans to enhance economic cooperation, with particular focus on sectors such as shipbuilding, defense industries, and artificial intelligence. Both sides signaled that closer coordination in these areas would be central to achieving the new trade target.
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