India and South Korea have agreed to work together on new projects in electronics, electric vehicle (EV) components, and digital supply chains. This decision came during talks between India’s Minister of State for Commerce and Industry Jitin Prasada and South Korea’s Yeo Han-Koo at the G20 Trade and Investment Ministers’ Meeting in Gqeberha, South Africa, on October 9, 2025. The focus is on manufacturing, digital technologies, and clean energy to strengthen economic ties.
Key Discussions at G20 Meeting
The ministers discussed ways to boost collaboration in high-tech areas. They aim to build trusted supply chains and create joint ventures that benefit both countries. This partnership supports India’s “Make in India” initiative and South Korea’s expertise in advanced manufacturing. Prasada also met with officials from Japan, South Africa, and the Netherlands to explore more trade opportunities during the same event.
Opportunities in Electronics and EV Sectors
South Korea leads in semiconductors and EV batteries, while India is growing its manufacturing base. The agreement targets joint work on EV components to meet India’s goal of 30% EV penetration by 2030. India’s EV market is expected to reach US$18.3 billion by 2029 from US$5.22 billion in 2024, with production capacity hitting 2.5 million units by 2030. This could create jobs and reduce import reliance, as South Korea supplies key tech like batteries.
FAQs [Frequently Asked Questions]
- What key sectors will India and South Korea collaborate on?
India and South Korea agreed to explore joint initiatives in electronics manufacturing, electric vehicle (EV) components, and trusted digital supply chains during G20 talks. The focus includes manufacturing, digital technologies, and clean technologies to build resilient partnerships and boost future industries. - Where and when did the India-South Korea trade ministers meet?
The discussions occurred on October 9, 2025, between India’s Minister Jitin Prasada and South Korea’s Yeo Han-Koo on the sidelines of the G20 Trade and Investment Ministers’ Meeting in Gqeberha, South Africa. They aimed to strengthen economic ties in high-tech areas. - What is the current bilateral trade volume between India and South Korea?
India-South Korea bilateral trade reached US$26.89 billion in FY25, with India’s exports at US$5.82 billion and imports at US$21.07 billion. In the first half of 2025, trade was US$12.75 billion, expected to grow to US$50 billion by 2030 through CEPA and new initiatives.