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An Analysis on the Competitiveness and Difficulties in Korea’s Export to India

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Abstract

In July 2018, President Moon Jae-in announced the new target of achieving $50 billion in trade between India and Korea by 2030 following a summit meeting with Narendra Modi, the Prime Minister of India. Despite the Korean government naming India as a key partner in line with its New Southern Policy, trade between the two countries had remained stagnant since reaching the $20 billion mark in 2011. Fortunately, we are seeing new momentum in export expansion as exports have surpassed the record high of $15 billion in the past two consecutive years. This could indicate we have entered a crucial point where we must finds ways to sustain this driving force if Korea is to continue expanding exports. As such, this study mainly focuses on Koreas export to India, identifying the factors contributing to export stagnation, and going on to present policy suggestions to enhance Korea’s export competitiveness in the Indian market.

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  • Cho, Choongjae & Song, Young Chul & Lee, Jung-Mi & Yun, ChiHyun, 2019. "An Analysis on the Competitiveness and Difficulties in Korea’s Export to India," World Economy Brief 19-4, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepwe:2019_004
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    Keywords

    Competitiveness; India;

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General

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