South Korean President and India’s Prime Minister agreed on 16 January 2014 to upgrade their comprehensive economic partnership agreement (CEPA) and make effective a revised double taxation agreement (DTA) between the two countries. It is reported that both countries agreed that that the CEPA, effective since 2010, needed to be upgraded as it more liberal arrangements have been concluded by countries with other partners. The scope of the agreement will most likely be widened cover 90% of goods subject to tariffs.