India and South Korea Conclude 12th Round of IK CEPA Upgrade Talks in New Delhi Amid Review of Trade Imbalance and New Cooperation Frameworks

The negotiations were co-chaired by Kapil Chaudhary, Joint Secretary in the Department of Commerce, and Park Geun-oh, Director General for Trade Agreement Policy at the Ministry of Trade, Industry and Energy of the Republic of Korea.

According to the Ministry of Commerce and Industry, both sides conducted a comprehensive review of the progress achieved so far in the IK CEPA upgrade negotiations. During the discussions, the two countries acknowledged India’s bilateral trade deficit, which has increased significantly since the IK CEPA entered into force in 2010. Both sides agreed to address this concern within the overall framework of the agreement.

The Ministry further stated that it has been decided to establish dedicated sub-groups to deepen cooperation in key strategic areas, including digital trade, supply chain cooperation, and strategic industrial cooperation. These mechanisms are intended to facilitate structured dialogue and advance mutually beneficial economic collaboration under the upgraded framework.

The conclusion of the 12th round reflects continued engagement between India and South Korea to modernize their economic partnership, address structural trade concerns, and expand cooperation into emerging and strategic sectors of the global economy.