India and South Korea have agreed to explore joint initiatives in the fields of electronics, electric vehicle (EV) components and trusted digital supply chains, the commerce ministry said on Friday.The discussions took place between Minister of State for Commerce and Industry Jitin Prasada and his Korean counterpart Yeo Han-Koo on the sidelines of the G20 Trade and Investment Ministers’ Meeting (TIMM) in Gqeberha, South Africa, PTI reported.“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 said in a statement.Prasada also held bilateral meetings with ministers from Japan, South Africa and the Netherlands to discuss ways of boosting trade and investment partnerships.During the G20 deliberations on the World Trade Organisation (WTO), Prasada called for restoring a fully functional, two-tier dispute settlement system with an operational appellate body. He also underlined the need for a permanent solution on public stockholding for food security, stressing the importance of ensuring affordable access to food for all.“India also highlighted policy space for development and adequate transition periods for developing members,” the statement added.The G20, a key forum for international economic cooperation, comprises 19 countries, the European Union and the African Union. Together, its members account for about 85% of global GDP, over 75% of world trade and nearly two-thirds of the world’s population.The African Union became a permanent member of the G20 during India’s presidency in 2023. The grouping was formed in 1999 after the Asian financial crisis and was elevated to Leaders’ level in 2009 to strengthen global coordination on growth, stability and emerging challenges.
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