Prime Minister Mr. Narendra Modi, President of South Korea Mr. Lee Jae Myung set a US$ 50 billion trade target, announced India-South Korea's ‘futuristic partnership’
- IBEF
- April 21, 2026
Prime Minister Mr. Narendra Modi and South Korean President Mr. Lee Jae Myung have outlined a roadmap to elevate bilateral relations into a ‘futuristic partnership’ during high-level talks in New Delhi. Emphasising shared democratic values, market economies and a common Indo-Pacific vision, both leaders highlighted the growing depth and dynamism of India-South Korea ties over the past decade. The visit, first by a South Korean President to India in eight years, was described as highly significant in strengthening strategic and economic cooperation. The statement further emphasised that the partnership will expand across diverse sectors, including technology, energy, environment and talent, reinforcing a shared commitment to peace, stability and prosperity.
A key outcome of the discussions was the announcement of an ambitious target to increase bilateral trade from Rs. 2.51 lakh crore (US$ 27 billion) to Rs. 4.65 lakh crore (US$ 50 billion) by 2030. Both sides agreed to undertake major initiatives to achieve this goal, signalling a new phase of economic engagement. The leaders stressed unlocking opportunities from chips to ships and across emerging domains, reflecting a comprehensive approach to collaboration. The announcement underscores the intent to deepen trade ties, enhance cooperation across industries and drive mutual growth. With this renewed push, India and South Korea aim to build a forward-looking partnership that leverages innovation, strengthens economic linkages and contributes to long-term development in both nations.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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