Commerce and Industry Minister Piyush Goyal announced plans for a dedicated 'Korea enclave' in India to attract South Korean investment, providing necessary infrastructure and amenities for expatriates. This initiative, discussed between Indian Prime Minister Narendra Modi and South Korean President Lee Jae-myung, aims to create a conducive environment for Korean firms. Goyal emphasized the need to upgrade the India-Korea Comprehensive Economic Partnership Agreement (CEPA), which has led to a significant trade deficit for India since its inception in 2010. The goal is to address non-tariff barriers and simplify business processes to achieve a more balanced trade relationship. Goyal stated that India aims to double bilateral trade by 2030, necessitating an annual growth rate of around 18%. Additionally, Goyal highlighted ongoing negotiations for preferential market access in the United States, aiming to secure better terms compared to competitors. These developments reflect India's strategic focus on enhancing economic partnerships and addressing trade imbalances.