India-South Korea bilateral trade talks on January 11

The trade crossed $20 billion in 2018 for the first time but business was hit in 2020

Union Minister Piyush Goyal with South Korean Trade Minister Yeo Han-koo on the sidelines of the G20 Trade Ministers' Meeting in Italy. File

India and South Korea will hold a round of talks on bilateral trade led by Commerce and Industry Minister Piyush Goyal and his South Korean counterpart Han-koo Yeo on Tuesday, the Ministry of Commerce and Industry said in a statement.

“The discussion will focus on addressing the large trade deficit, market access issues and non-tariff barriers faced by Indian exporters. It will also feature investment related issues,” said the statement.

The trade crossed $20 billion in 2018 for the first time but business was hit in 2020 and thereafter because of the pandemic which affected both countries. The Government said the talks are expected to make India-South Korea trade relations “equitable and balanced” to the “mutual advantage”.