India’s Trade Integration with the Republic of Korea: A Services Trade Analysis of India–Korea CEPA

India and the Republic of Korea signed the India–Korea Comprehensive Economic Partnership Agreement (CEPA) in 2009 and have been actively engaged in upgrading this agreement since 2015. This article analyses the India–Korea CEPA from a services trade perspective. It compares the services commitments undertaken by the two countries under the India–Korea CEPA and the WTO. It further assesses the gains for India from the CEPA by comparing services exports and imports before and after the CEPA came into operation. The study finds that India’s services exports to Korea have increased more than its imports from Korea, resulting in an increase in India’s services trade surplus with Korea after the CEPA. The study recommends exploring bilateral labour agreements with Korea to facilitate the movement of natural persons in specific sectors and further liberalisation commitments from Korea in services of India’s interests during the CEPA upgradation. JEL Classification: F13, F14, F15