South Korean President Lee Jae Myung and Indian Prime Minister Narendra Modi agreed on Monday to expand cooperation in trade, strategic industries and energy security, as the two leaders held a summit in New Delhi and adopted a joint press statement outlining plans to upgrade bilateral ties. The leaders agreed to accelerate negotiations to improve the Korea-India Comprehensive Economic Partnership Agreement (CEPA), establish a new ministerial-level Industrial Cooperation Committee and work toward doubling bilateral trade to $50 billion by 2030, according to the statement.

The two sides also pledged to broaden cooperation in sectors including shipbuilding, finance, artificial intelligence and