NEW DELHI: India and South Korea are intensifying efforts to strengthen their economic partnership, setting an ambitious target to scale bilateral trade to $50 billion by 2030. The move underscores a shared commitment to deepen collaboration in emerging technologies and build resilient supply chains amid evolving global trade dynamics.

Both nations are focusing on expanding cooperation in key sectors such as semiconductors, electronics, electric vehicles, and green technologies. The initiative is also expected to enhance investments, promote innovation, and reduce dependency on vulnerable supply routes.

Officials from both sides have emphasized the importance of strategic alignment in critical industries, with a focus on ensuring stability and diversification in supply chains. Strengthening trade ties is seen as a crucial step toward fostering long-term economic growth and technological advancement for both countries.

The renewed push comes as India and South Korea continue to explore avenues for upgrading their existing trade agreements and unlocking new opportunities for businesses across sectors.