India and South Korea will jointly review their free trade agreement (FTA) to boost trade and investment ties, an industry source said.
Indian steel-makers want steel products to be excluded from the scope of the FTA as a surge in cheaper steel imports was hurting them, the source said.
Both the countries will assess the benefits derived under the existing CEPA, the source said.
The FTA, officially called the Comprehensive Economic Partnership Agreement (CEPA), had come into effect in 2010.
The FTA review will involve, among other things, fresh negotiations on elimination/reduction of duties on various products.