India and South Korea are aiming to increase bilateral trade to $50 billion by 2030, a goal first announced in 2018. The focus is on enhancing cooperation in semiconductors, shipbuilding, AI, defense, and securing supply chains. However, trade between the two countries grew at a compounded annual rate of just 3% from 2018 to 2025. Despite this, regulatory delays are a key deterrent for South Korean companies seeking to invest in India. Both countries are looking to diversify from the U.S. and explore sourcing options other than China.