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


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

RoSCTL is need of the hour

Footwear industry, Head honchos

Footwear industry
Head honchos

Personalised and differentiated footwear is in high demand

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Atul Mittal,

Atul Mittal

Established in 1997, Pratibha Syntex produces over 60 million pieces of...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Ritu Ajbani & Neha Agarwal,

Ritu Ajbani & Neha Agarwal

Petit Royal, co-founded by entrepreneurs <b>Ritu Ajbani and Neha...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

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

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

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


October 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search