India, South Korea to Boost EV and Digital Ties

• India, South Korea to collaborate on electronics, EV components, and digital supply chains
• Jitin Prasada met ministers from Japan, South Africa, and the Netherlands to boost trade ties
• India urged restoring the dispute settlement system and securing food security solutions

According to a statement from the Commerce Ministry, India and South Korea have decided to look into the possibility of joint initiatives on several strategic sectors including electronics manufacturing, electric vehicle (EV) components and trusted digital supply chains.

The meetings occurred amidst the G20 Trade and Investment Ministers' Meeting in Gqeberha, South Africa, between the Minister of State for Commerce and Industry Jitin Prasada and his Korean counterpart Yeo Han-Koo.

Moreover, Prasada's visit allowed him to have bilateral meetings with ministers from Japan, South Africa, and the Netherlands, to connect collaboration in these aspects of trade, technology, and investment. The discussions furthered India’s worldwide economic partnership and cooperation in the new areas of mutual interest.

According to a statement from the ministry, the focus areas were trade collaboration in manufacturing, digital technologies, and clean technologies, and announced that both countries would enhance partnerships in industries of the future.

While discussing the matter of World Trade Organization (WTO) reforms, Prasada went on to India’s demand of the re-establishment of a fully functioning two-tier dispute settlement mechanism with an operational appellate body as the only means to bring about fairness and efficiency in global trade governance, so he reiterated it.

He also pointed out the demand for a permanent solution to public stockholding for food security as the most urgent issue in trade negotiations, while at the same time he stressed the need for developing countries to keep cultivating and having cheap access to food. There was no question about India's commitment to developing and equitable global trade, which was clearly stated in the course of the discussions.