India and South Korea set an ambitious target to more than double their bilateral trade to $50 billion by 2030, marking a significant upgrade

South Korean President Lee Jae Myung met Indian Prime Minister Narendra Modi in New Delhi on Monday, with both leaders pledging to nearly double bilateral trade to deepen economic and strategic ties.

South Korea and India have agreed to nearly double bilateral trade to $50 billion by 2030, up from about $27 billion.

Get latest articles and stories on World at LatestLY. Addressing the joint press meet alongwith Prime Minister Narendra Modi, he said, "We aim to increase the current 25 billion dollar level of annual trade volume to around 50 billion dollars by 2030." World News | Aim to Double Bilateral Trade to $50 Billion by 2030: S Korean President Lee Jae Myung in India.

Get latest articles and stories on Business at LatestLY. Union Minister of Commerce and Industry Piyush Goyal met with his South Korean counterpart, Yeo Han-koo, Trade Minister, Ministry of Trade, Industry and Resources (MOTIR), Republic of Korea, to discuss the resumption and modernization of the India-Korea Comprehensive Economic Partnership Agreement (CEPA). Business News | Piyush Goyal, S Korean Counterpart Discuss Revamping CEPA to Boost Mutual Trade and Investment.

Get latest articles and stories on Business at LatestLY. Speaking on the sidelines of India-Korea Business Forum, Sajjan Jindal, Chairman and Managing Director of JSW Steel, said the evolving global landscape makes stronger bilateral ties even more important. "The Prime Minister was very forthcoming that the India-Korea relationship should get stronger in today's disturbed global environment," he said. Business News | India, South Korea Eye Stronger Tech, Manufacturing Partnership Amid Global Uncertainties: Industry Leaders.