India and South Korea Pledge to Double Trade to $50 Billion by 2030
South Korean President Lee Jae Myung and Indian Prime Minister Narendra Modi met in New Delhi on Monday, announcing plans to nearly double bilateral trade from $27 billion to $50 billion by 2030. The leaders emphasized strengthening supply chains and encouraging greater investment between their countries.
Major Trade Partnership Expansion
South Korean President Lee Jae Myung met Indian Prime Minister Narendra Modi in New Delhi on Monday, with both leaders pledging to nearly double bilateral trade to deepen economic and strategic ties. Modi said India and South Korea aim to increase trade between their countries from about $27 billion to $50 billion by 2030.
Strategic Partnership Goals
The plan involves strengthening supply chains, improving market access and encouraging greater investment. "India and South Korea are going to transform their trusted ties into a futuristic partnership," Modi said.
Economic Cooperation Framework
The announcement represents a significant escalation in economic cooperation between the two Asian powers, with both countries seeking to diversify their trade relationships and strengthen regional supply chains amid global economic uncertainty.