India, South Korea set $50 billion trade target — Big boost to economic ties

The announcement was made during South Korean President  Lee Jae Myung's state visit to India.

This is the first visit by a South Korean President to New Delhi in eight years time.

He is visiting India amid the ongoing Middle East tension.

"Today, bilateral trade between India and Korea has reached 27 billion dollars," Modi said during a joint briefing.

"We have taken several important decisions to increase this to 50 billion dollars by 2030,"  he said.

After his meeting with the President, MEA spokesperson Randhir Jaiswal shared the issues discussed during the bilateral talks.

He wrote: "PM @narendramodi and President @Jaemyung_Lee held productive and wide-ranging talks in New Delhi."

The two leaders reviewed the overall progress in the India–ROK Special Strategic Partnership and discussed avenues to further expand cooperation in trade, financial services, shipbuilding, AI, energy, semiconductors, critical and emerging technologies, defence and security, as well as people-to-people and cultural exchanges.

"Both leaders also discussed regional and global issues of mutual interest," Jaiswal said.

Following the talks, both leaders also witnessed exchange of several MOUs/ frameworks in the field of economy, trade, shipbuilding and maritime sector, digital sector, critical and emerging technologies, education, culture, sports and P2P ties.

  Lee Jae Myung, is currently on a State Visit to India from 19-21 April 2026.