Home / Knowledge / News / Textiles / India seeks greater access to Korean textile market
India seeks greater access to Korean textile market
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

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search