Piyush Goyal Slams India-South Korea CEPA, Flags Need To Rewrite ‘Irrational’ Trade Deal

| Apr 20, 2026, 11:02:18 PM | TOI.in
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India and South Korea have agreed to restart negotiations to upgrade the Comprehensive Economic Partnership Agreement (CEPA), first signed in 2010. Commerce and Industry Minister Piyush Goyal said the earlier agreement was “lopsided” and did not adequately benefit India, contributing to a widening trade deficit. He said both sides will work on a new, more modern framework that reflects current global economic realities. Discussions also focused on expanding technology cooperation, boosting investments, and improving business linkages. India has proposed creating a dedicated Korean enclave with industrial and social infrastructure to attract Korean companies and professionals. Goyal also highlighted major investment commitments, including a $7 billion steel project in Odisha, calling it a key step in strengthening bilateral economic relations.

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