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An Analysis on the Competitiveness and Difficulties in Korea’s Export to India
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  • An Analysis on the Competitiveness and Difficulties in Korea’s Export to India
저자명
Choongjae Cho, Young Chul Song, Jung-Mi Lee and ChiHyun Yun
간행물명
World Economy Brief
권/호정보
2019년|19권 (통권9호)|pp.1-5 (5 pages)
발행정보
대외경제정책연구원|한국
파일정보
기타|ENG|
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영문초록

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 Korea's 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.