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India-South Korea CEPA: Challenges facing Indian textiles

30 Nov '24
8 min read
India-South Korea CEPA: Challenges facing Indian textiles
India-South Korea CEPA: Challenges facing Indian textiles

Insights

  • South Korea and India signed Comprehensive Economic Partnership Agreement (CEPA) in 2009.
  • Post-CEPA, India's trade deficit has grown, with the country importing far greater share from South Korea than exporting to it.
  • Indian exports are majorly mineral fuels and oils, organic chemicals, and automobiles.
  • Indian textiles have not secured substantial share in the Korean market.

India and South Korea are set to resume negotiations on the current CEPA. This analysis would help Indian textile exporters to identify where Indian textiles lack in the South Korean market and what should be discussed during the negotiations with respect to Indian textiles.

Exhibit *: India’s export to South Korea from CY **** To CY **** (in $ billion)

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