India-South Korea relations have made great strides in recent years. Bilateral cooperation covers a range of sectors such as energy, trade, electronics, shipbuilding, information technology and cybersecurity. Bilateral consular relations were established in 1962 which was upgraded to Ambassador-level in 1973. India-South Korea relations only really warmed up when the two countries integrated their two strategies, namely: India’s “Act East Policy” and South Korea’s “New Southern Policy”. In the same pursuit, both sides have committed to further strengthen the India-South Korea Comprehensive Economic Partnership Agreement (CEPA) in 2009 (effective from January 1, 2010) which allows to remove or cut tax rates on most exports between the two sides. The paper focuses on assessing the overall relationship of trade and investment cooperation between two strategic countries in Asia, India-South Korea, since the two countries signed CEPA.