12th Round of India‑Korea CEPA Upgrade Talks in New Delhi – Key Outcomes and Future Steps

Overview The Ministry of Commerce & Industry hosted the 12th round of the India‑Korea Comprehensive Economic Partnership Agreement ( IK CEPA ) upgrade negotiations in New Delhi from 25–27 May 2026 . The talks were co‑chaired by Ms. Kapil Chaudhary , Joint Secretary, Department of Commerce, and Mr. Park Geun‑oh , Director General for Trade Agreement Policy, Ministry of Trade, Industry and Energy (MOTIE), Republic of Korea. Key Developments Both sides reviewed progress on Trade in Goods (TiG) , Trade in Services (TiS) , Rules of Origin (RoO) and origin procedures, investment, and SPS standards. They acknowledged the growing bilateral trade deficit that has widened since the original IK CEPA came into force in 2010 and agreed to address it within the upgraded framework. Decision to set up three sub‑groups focusing on digital trade , supply‑chain cooperation, and strategic industrial cooperation. Both parties reaffirmed a commitment to conclude the upgrade negotiations in a time‑bound manner, aiming for a modernised, mutually beneficial agreement. Important Facts Joint Declaration signed on 20 April 2026 by Union Minister Shri Piyush Goyal and Korean Trade Minister Mr. Yeo Han‑koo during the Korean President’s state visit. Negotiations were conducted in a “constructive and cooperative spirit”, reflecting the “Futuristic Partnership” envisioned by Prime Minister Shri Narendra Modi and Korean President Mr. Lee Jae‑myung . Core agenda items: TiG, TiS, RoO, origin procedures, investment, SPS standards, and the formation of sector‑specific sub‑groups. UPSC Relevance The upgrade of IK CEPA illustrates how India negotiates bilateral trade agreements to balance trade deficits and promote strategic sectors. Understanding Rules of Origin is essential for GS‑3 questions on trade policy. The focus on digital trade and supply‑chain resilience reflects emerging priorities in India’s economic diplomacy. Way Forward Sub‑groups will now draft detailed proposals on digital trade, supply‑chain cooperation, and strategic industrial collaboration. Both governments aim to finalize the upgraded agreement within the next few months, ensuring that the new pact addresses the trade deficit, enhances market access, and aligns with India’s broader “Make in India” and “Digital India” initiatives. Successful conclusion will strengthen bilateral ties and set a template for future upgrades of other bilateral agreements.