Home / Knowledge / News / Textiles / India seeks greater access to Korean textile market
India seeks greater access to Korean textile market
21
Aug '13
Textiles and garments is among the three sectors for which India has sought greater access in the South Korean market.
 
At a bilateral meeting between India’s Minister of Commerce and Industry Anand Sharma and his Korean counterpart Mr. Yoon Sang-jick on the sidelines of Asean Ministerial meeting in Brunei, Mr. Sharma pointed out the widening trade deficit for India.
 
Realizing the need for more balance in the bilateral trade, the Korean Minister agreed to consider providing better market access to Indian products.
 
Mr. Sharma identified textiles and garments, information technology and generic medicine as the three sectors in which India needs greater access to the Korean market.
 
“A balanced trade is conducive to long term, sustainable and harmonious development of our economic cooperation” said Mr. Sharma, according to a statement from the Indian Ministry of Commerce and Industry.
 
Mr. Sharma appreciated the 70 percent growth in the first two years of implementation of Comprehensive Economic Partnership Agreement (CEPA) with Korea.
 
He informed the Korean Minister about the 12 National Investment and Manufacturing Zones (NIMZ) coming up in India as part of the National Manufacturing Policy which aims to increase the share of manufacturing in GDP from the current 16 percent to 26 percent, and elaborated on the huge opportunities available for the Korean companies to invest in infrastructure development in India. 
 
In January-June 2013, India’s import from Korea stood at US$ 6.34 billion, while exports were US$ 1.77 billion in the same period.
 
In 2012, India’s exports from Korea stood at US$ 4.14 billion, while imports were US$ 13.50 billion.
 

Fibre2fashion News Desk - India


Must ReadView All

Ghana to be top African apparel manufacturing hub: Minister

Apparel/Garments | On 22nd Nov 2017

Ghana to be top African apparel manufacturing hub: Minister

Ghana will turn Africa’s leading apparel manufacturing hub after the...

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search