India and South Korea conducted the 12th round of negotiations from 25-27 May 2026 in New Delhi to upgrade the India-Korea Comprehensive Economic Partnership Agreement (CEPA) and strengthen bilateral economic cooperation.

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• India and South Korea held the 12th round of CEPA upgrade negotiations in New Delhi from 25 to 27 May 2026 to enhance trade and investment relations.
• The discussions focused on upgrading the India-Korea Comprehensive Economic Partnership Agreement (IK CEPA), which originally came into force in 2010.
• The negotiations were conducted following the Joint Declaration signed by both countries on 20 April 2026 to deepen economic and strategic cooperation.
• Key areas discussed included trade in goods, trade in services, investment, rules of origin, origin procedures, and sanitary and phytosanitary (SPS) measures.
• Both sides reviewed India’s growing trade deficit with South Korea and agreed to explore solutions through the upgraded CEPA framework.
• India and South Korea decided to create dedicated sub-groups on digital trade, supply chain resilience, and strategic industrial cooperation.
• The two countries committed to concluding the CEPA upgrade talks in a time-bound manner to establish a modern, balanced, and mutually beneficial trade agreement.
• The upgraded CEPA is expected to improve market access, boost bilateral trade, attract investments, and strengthen India-South Korea economic and strategic ties.