The India-Korea agreement, dubbed as comprehensive economic partnership agreement (CEPA), was operationalised in January 2010. India has sought greater market access for certain products like steel, rice, and shrimp from South Korea to boost exports of these goods. India has also raised concerns about the growing trade deficit between the two countries. India's exports to Korea dipped to USD 6.41 billion in 2023-24 from USD 6.65 billion in 2022-23 and USD 8 billion in 2021-22.
