Home / Knowledge / News / Textiles / 'Chinese exports to Korea far ahead of India' - FICCI
'Chinese exports to Korea far ahead of India' - FICCI
22
Sep '08
India's share in Korean import market, though rising, is far behind that of China and the gap has been widening, according to a FICCI analysis. Even though India's exports to Korea rose by nearly 4 times from $1.25 billion to $4.62 billion and India's share in Korea's total imports improved from 0.8% to 1.3% between 2002 & 2007, it fell short of China's impressive performance in capturing growing share of Korean import market, FICCI pointed out.

China's exports to Korea recorded a robust increase from $17.4 billion to $63 billion during 2002-2007 and now account for around 18% of Korea's global imports. More importantly, the gap between India's and China's share has been steadily widening in the same period, observed the apex Chamber.

In the last five years, China's exports to Korea registered consistently high rate of growth ranging between 26 and 35 per cent. On the other hand, India's exports to Korea witnessed a more fluctuating trend since 2003. In 2007, exports from India to Korea were surpassed by not only China, but 3 ASEAN countries (Indonesia, Malaysia and Singapore) too exported more to Korea than India did.

As regards product composition, top exports from India included crude & petroleum products, gems & jewellery, iron & steel, organic chemicals, cotton textiles, oil-cake, iron ore, articles of iron & steel, machineries and instruments.

However, just one item that is petroleum & petro-products constitutes 55% of India's total exports to Korea. In fact, if petroleum is excluded, India's export figures drop to just over $2 billion and its share in Korea's total non-oil imports comes down steeply to a mere fraction (0.6% in 2007).

This reflects an overwhelming preponderance of petroleum in India's export basket to Korea, and consequently the need for stepping up exports of non-petroleum items such as marine products, inorganic chemicals, pharmaceuticals, dyestuffs, ready-made garments, plastics, copper & aluminium products, instruments and electrical machinery.

In all these product-groups except dyestuffs, India's present share in Korean imports is miniscule (below 1%) and hence enormous opportunities exist for expanding exports from India to Korea through the route of FTA that is currently under negotiation, FICCI analysis suggests. The 12th round of negotiations on comprehensive economic partnership agreement (CEPA) between the two countries will be held during 22-25 September in Seoul.

Federation of Indian Chambers of Commerce and Industry


Must ReadView All

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

German investors keen to invest in Pakistan: top official

Textiles | On 26th Apr 2018

German investors keen to invest in Pakistan: top official

A German traders delegation will soon visit Pakistan to explore...

Courtesy: Uster

Textiles | On 26th Apr 2018

Uster Technologies acquires Elbit Vision Systems

Uster Technologies has announced the successful closure of the...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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