India and Korea have agreed to explore joint initiatives in electronics, electric vehicle (EV) components, and digital supply chains, the commerce ministry announced on Friday. The discussions took place between Minister of State for Commerce and Industry Jitin Prasada and his Korean counterpart Yeo Han-Koo.
“In discussions, the focus areas included collaboration in manufacturing, digital technologies, and clean technologies. The two sides agreed to explore joint initiatives in electronics, EV components, and trusted digital supply chains,” the ministry stated.
During the G20 Trade and Investment Ministers’ Meeting (TIMM) held in Gqeberha, South Africa, Prasada also held bilateral meetings with ministers from Japan, South Africa, and the Netherlands to discuss ways to boost trade and investment.
On matters related to the World Trade Organisation (WTO), Prasada urged the restoration of a fully functional two-tier dispute settlement system with an operational appellate body. He further emphasised the need for a permanent solution on public stockholding for food security, underlining the importance of affordable access to food. “India also highlighted policy space for development and adequate transition periods for developing members,” the ministry added.
The G20 serves as a forum for international economic cooperation, comprising 19 countries, the European Union, and the African Union. G20 members account for approximately 85 percent of global GDP, over 75 percent of world trade, and nearly two-thirds of the global population. The African Union became a member of the G20 during India’s presidency of the forum in 2023.
Established in 1999 after the Asian financial crisis, the G20 was elevated to the leaders’ level in 2009 to strengthen coordination on global growth, economic stability, and international challenges.
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