The Government of the Republic of India and the Government of the Republic of Korea (hereinafter referred to as "the Contracting Parties"), 

Desiring to intensify economic cooperation between the two States, 

Intending to encourage and create favourable conditions for investments by investors of one Contracting Party in the territory of the other Contracting Party on the basis of equality and mutual benefit and, 

Recognising that the promotion and protection of investments on the basis of this Agreement stimulates business initiative in this field, 

Have agreed as follows: