New Delhi, Apr 20 (BNP): India and South Korea have renewed efforts to strengthen their economic partnership, with Union Commerce Minister Piyush Goyal holding discussions with his South Korean counterpart on upgrading the existing Comprehensive Economic Partnership Agreement (CEPA).

The talks focused on making the trade pact more aligned with current global economic dynamics, with both sides exploring ways to enhance market access, streamline trade processes, and unlock new investment opportunities.

Officials indicated that revisiting the CEPA is aimed at addressing existing gaps in the agreement while expanding its scope to include emerging sectors such as advanced manufacturing, technology collaboration, and sustainable industries.

The discussions come at a time when both countries are seeking to scale up bilateral trade and strengthen supply chain resilience amid global uncertainties. There is also a shared focus on encouraging greater participation from businesses and investors on both sides.

India and South Korea have maintained strong economic ties over the years, and the move to upgrade the agreement reflects a broader push to build a more dynamic and future-ready partnership.

The proposed revamp of CEPA is expected to support long-term growth in trade volumes, facilitate smoother investment flows, and deepen cooperation across key sectors, reinforcing the strategic economic relationship between the two nations.