Korea and India are ideal economic partners with matching needs- Korea needs to foster co-operation with India in terms of diversifying trade and investment in the wake of COVID-19 and the U-S--China conflict- Meanwhile, fostering manufacturing is a priority of India, and continuous efforts will be made to improve participation in GVC- Considering the strengths of both countries, the potential for cooperation is high- Korea is competitive in key manufacturing industries such as electronics and automobiles that India wants to foster, and has upgraded economic relations with India since the signing of the Korea-India CEPA- In addition, Korea has strong trade and investment links with ASEAN and could serve as a cooperative partner for India in ASEAN- Meanwhile, India is actively improving its investment environment and has excellent service industries in areas such as IT, R&D, and business services- Moreover, India is building a diversified economic network with the United States, the EU, South Asia, the Middle East, and Africa, showing its high potential for cooperation with Korea in those countries-