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Upgrading India-Korea trade agreement will focus on balanced partnership: Goyal
India and South Korea agreed to upgrade the CEPA to pursue a more balanced economic partnership rather than large trade deficits. Earlier on April 20, 2026, Modi and Lee Jae Myung held a joint press conference announcing several MoUs, including CEPA upgrade, with further comments from Goyal.
Why It Matters
The CEPA upgrade signals deeper bilateral trade and investment ties and a move toward a more balanced economic relationship between India and Korea.
Timeline
2 Events
Goyal says CEPA upgrade aims for balanced partnership, not large deficits
April 20, 2026
Commerce Minister Piyush Goyal said upgrading the CEPA is aimed at growing towards a more balanced economic partnership and not one defined by very large trade deficits.
Modi and Lee Jae Myung announce MoUs including CEPA upgrade
April 20, 2026
Earlier in the day, Prime Minister Narendra Modi and South Korean President Lee Jae Myung addressed a joint press conference and announced the signing of several MoUs, including an agreement to upgrade the CEPA.