August exports to India jump 47.3% to $2.34b

Semiconductors, petrochemicals, general machinery lead gains

On track for $50b bilateral trade target by 2030

KOTRA's headquarters in Yangjae, Seoul. [KOTRA]
KOTRA's headquarters in Yangjae, Seoul. [KOTRA]

South Korea's exports to India have surged this year, driven by strong demand for industrial goods such as semiconductors, petrochemicals and general machinery, as well as growing consumer interest in Korean food and cosmetics. The momentum has raised confidence that the two countries can meet their shared goal of $50 billion in bilateral trade by 2030.

According to a 2026 Korea-India trade analysis released Monday by the Korea Trade-Investment Promotion Agency, South Korea's cumulative exports to India from January through August reached $16.8 billion — up 30.8 percent from $12.84 billion in the same period last year.

Imports from India over the same period rose 16.2 percent to $5.03 billion, from $4.33 billion a year earlier. Combined, bilateral trade through August exceeded $21.8 billion.

The pace of trade expansion has accelerated particularly since President Lee Jae Myung's state visit to India in April, which lifted the mood for economic cooperation between the two countries. Exports to India jumped 41.9 percent year-on-year in April and have continued to climb since.

Exports to India in August alone reached $2.34 billion, up 47.3 percent from $1.59 billion in the same month last year — the highest figure ever recorded for August.

Korea's materials, parts and equipment exports boom as India expands manufacturing

Analysts say the export surge is closely tied to India's government-led push to build up its manufacturing sector. India is pursuing a global production hub strategy centered on its "Make in India" policy while also ramping up investment in new industries and infrastructure, including AI, data centers and logistics.

As local manufacturing demand grows, Korean suppliers of materials, parts and equipment have been moving quickly into India's supply chains.

By product category, semiconductors, petrochemicals and general machinery led the overall increase. Semiconductor exports were particularly strong, jumping 177.5 percent year-on-year to $690 million in the Aug. 1–25 period, making them the top export item to India and the primary driver of overall export growth.

Petrochemical product exports over the same period rose 31.4 percent to $320 million, while general machinery climbed 16.5 percent to $150 million. KOTRA attributed the gains to India's expanding manufacturing base and rising demand for basic raw materials and upgraded production equipment.

KOTRA projected that demand for other key industrial goods — including batteries, precision materials, and steel and metals — will continue to grow as India invests further in infrastructure and supply chain expansion.

Hallyu-driven consumer goods are also gaining ground. Exports of noodle products, including ramyun, rose 54.7 percent year-on-year in the January–July period, while cosmetics-led beauty product exports grew 19.2 percent over the same span.

K-food, K-beauty join push toward $50b Korea-India trade by 2030

Building on the export momentum, KOTRA is targeting $50 billion in Korea-India bilateral trade by 2030. The agency plans to broaden supply chain and industrial cooperation with India and diversify its export and overseas expansion lineup, using ongoing negotiations to improve the Korea-India Comprehensive Economic Partnership Agreement — which gained fresh impetus from the April summit — as a foundation.

In the near term, KOTRA will strengthen advanced supply chain cooperation in connection with Semicon India, which opens in mid-September. The agency plans to hold a "Korea-India Semiconductor Partnership Day" in New Delhi in line with India's semiconductor mission, known as the India Semiconductor Mission. Fifteen Korean materials, parts and equipment companies will take part, seeking new business opportunities with major local firms including Tata and Micron.

KOTRA is also working to expand the reach of hallyu consumer goods into local retail networks. The agency is pursuing a promotional event with Reliance, India's largest retail conglomerate, before the end of the year, and plans to operate a Korean cosmetics pavilion at the Cosmoprof Mumbai exhibition in December.

"The more-than-30-percent jump in exports to India through August signals that opportunities in this vast market are beginning to emerge in earnest amid a global supply chain realignment," KOTRA President Kang Kyung-sung said. "We will work to maximize the follow-through from summit diplomacy and diversify India-bound exports and overseas expansion — from materials, parts and equipment to consumer goods — to lead the way in opening a new era of $50 billion in Korea-India trade by 2030."


eyre@heraldcorp.com