Seoul, Sep 7 (IANS) South Korea's exports to India jumped more than 30 per cent in the first eight months of the year from the same period in 2025, driven by strong demand for semiconductors, a government agency said on Monday.
Korean shipments to India rose 30.8 per cent on-year to $16.8 billion from January through August compared to $12.84 billion last year, according to the Korea Trade-Investment Promotion Agency (KOTRA).
India is stepping up investment in artificial intelligence (AI), data centres and related infrastructure under its "Make in India" initiative, as it seeks to become a global manufacturing hub, KOTRA said, reports Yonhap news agency.
Korean chipmakers and materials, parts and equipment companies have expanded their presence in the Indian market amid the country's industrial push, it said.
"The strong performance of exports to India clearly shows that Korean companies will have more business opportunities in the fast-growing market amid the ongoing reorganisation of global supply chains," KOTRA President and Chief Executive Officer Kang Kyung-sung said.
KOTRA aims to help increase bilateral trade between South Korea and India to $50 billion by 2030, Kang said, with opportunities spanning sectors from semiconductors to consumer goods.
In April, President Lee Jae Myung held a summit with Prime Minister Narendra Modi in India, where the two leaders agreed to accelerate negotiations to upgrade their Comprehensive Economic Partnership Agreement (CEPA), with a goal of doubling bilateral trade to $50 billion by 2030.
Imports from India rose 16.2 per cent to $5.03 billion in January-August from $4.33 billion a year earlier, bringing total bilateral trade to $21.8 billion.
In June, Lee and PM Modi agreed to advance their countries' bilateral ties to a new level, referring to their recent conversation on the sidelines of the Group of Seven (G7) summit in France.
"(We) agreed to strengthen cooperation between South Korea and India across all areas, including the economy, culture and society, while building a new relationship between the two countries," Lee wrote on his X account.
Lee said cooperation between the two countries had remained very weak compared with their economic size and potential, while sharing a post Modi posted on his own X account about their conversation.
In his own X post, PM Modi said he "had a very good conversation with the President of the Republic of Korea, Mr. Lee Jae Myung," adding, "Our nations are working together in trade, commerce and many other futuristic sectors.”
—IANS
na/
