India, South Korea eye upgrade in free trade agreement, ‘more balanced’ ties
Legislative action — a bill, act, or amendment that creates or modifies the legal framework. Carries binding force and shapes the rules under which citizens, institutions, and markets operate.
Summary
India imported goods worth $21.06 billion from South Korea in 2024-25 and exported $5.82 billion, resulting in a trade deficit of $15.24 billion.
Key Facts
Type Legislation
Source Hindustan Times - India
Published Tuesday, 21 April 2026
Affected Population 63 million MSMEs, export-import community
Key Numbers
Merchandise exports: $437 billion (2024-25)
FDI inflow: $71 billion (2024-25)
PLI scheme: Rs 1.97 lakh crore across 14 sectors
Rs 15,000 crore for Digital India initiatives
Key Authorities
Key Stakeholders
Government Context
NDA III BJP-led NDA
Left Centre Right