Embassy of India Seoul, Republic of Korea
CEPA CEPA

CEPA

[As on July 2026]

India – ROK Comprehensive Economic Partnership Agreement (CEPA)

The India Korea CEPA (IKCEPA) was signed on 7th August 2009 and came into effect on 1 Jan, 2010. Under IKCEPA, in goods category, most of the Tariff Lines (93.1 % for India and 83.7% for Korea) are under preferential tariff category (i.e. either at zero tariff  or at reduced tariffs). Currently, there are 12124 TLs under India’s Schedule of IKCEPA, out of which approx. 4011 tariff lines (at HS 2022) are under non-zero category  for Korea. Similarly, there are 11293 TLs under Korea’s schedule of IKCEPA, out of which approx. 1617 tariff lines are under non-zero category. Thus, in goods category, current negotiations are for tariff concessions on above mentioned lines (4011 by Korea and 1617 by India)

IK-CEPA UPGRADE NEGOTIATIONS

The Prime Ministers of India and Korea, at the summit meeting held on 18 May 2015 in Korea, agreed on commencement of negotiations to amend the IKCEPA with a view to achieve qualitative and quantitative increase of trade through an agreed road-map. Since then, 12 rounds of negotiations at Chief Negotiators level (JS/AS-DG level) and several inter-sessional rounds have been held.  The latest round (12th) was held in New Delhi from 25 – 27 May, 2026.

A Joint Declaration on Resuming & Expediting CEPA Upgrade Negotiations for Early Conclusion by first half of 2027 was announced at the Summit meeting (19-21 April, 2026). 

EARLY HARVEST PACKAGE: 

After 6 rounds of negotiations, the two sides had agreed 'in-principle' in 2018 on an 'Early Harvest Package' (EHP) in Goods, Rules of Origin and Services, subject to each country’s domestic approval procedures.  The same is yet to be notified. 

South Korean business was quick to recognize the great potential of the Indian market comprising of 1.4 billion people and a 400 million strong middle class, endowed with excellent buying power. Indian demand for a wide range of goods and services, is expanding rapidly consequent to the steady GDP growth of around 7% during the preceding five years. India’s GDP is poised to touch $ 4.15 trillion by the end of the year. It is expected that India would become the 3rd biggest economy in the world by 2030.

The initial impact of CEPA has been very encouraging. Bilateral trade crossed $ 20.6 billion by the end of 2011, registering nearly a 70% increase over a two year period. Both sides have been conducting regular reviews of the implementation of CEPA. 

12th round of India-Korea Comprehensive Economic Partnership Agreement upgrade negotiations

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