Korea's exports to India reached a cumulative $16.8 billion through August this year, up more than 30% from the same period a year earlier. While exports expanded mainly in industrial goods such as semiconductors, petrochemicals, and general machinery, consumer goods such as K-food and K-beauty also grew.
On the 7th, the Korea Trade-Investment Promotion Agency (KOTRA) said an analysis of 2026 Korea-India trade statistics showed cumulative exports to India in January–August rose 30.8% to $16.8 billion from $12.84 billion a year earlier. During the same period, imports from India increased 16.2% to $5.03 billion from $4.33 billion a year earlier. As a result, the two countries' trade volume through August exceeded $21.8 billion.
Export growth has stood out since April this year. Exports to India in April increased 41.9% from a year earlier. August exports were $2.34 billion, up 47.3% from $1.59 billion a year earlier, marking the highest level for any August on record.
KOTRA analyzed that exports increased as more Korean materials, parts, and equipment (MPE) corporations entered local supply chains, driven by India's manufacturing promotion policy "Make in India" and rising investment in AI, data centers, and infrastructure.
Semiconductors, in particular, jumped sharply. From Aug. 1–25, semiconductor exports surged 177.5% year over year to $690 million. During the same period, petrochemical products rose 31.4% to $320 million, and general machinery increased 16.5% to $150 million.
The increase appears to reflect demand for basic raw materials and production facilities amid India's manufacturing expansion. KOTRA projected that demand for industrial goods such as batteries, precision materials, and steel and metals will also rise in line with local infrastructure investment and supply chain expansion.
Exports to India of Korean Wave consumer goods are also expanding, not just industrial goods. In January–July this year, exports of noodles such as ramen increased 54.7% from a year earlier. Exports of beauty products, including cosmetics, also rose 19.2% in the same period.
Korea and India set a goal at the April summit to expand bilateral trade to $50 billion by 2030. KOTRA plans to expand bilateral supply chain and industry cooperation and diversify export items and local business areas in connection with discussions to improve the Korea-India Comprehensive Economic Partnership Agreement (CEPA).
This month, in conjunction with Semicon India in New Delhi, the "Korea-India Semiconductor Partnership Day" will be held. In line with the "India Semiconductor Mission (ISM)," which the Indian government is pursuing to develop the country into a global electronics and semiconductor manufacturing hub, KOTRA will support business cooperation between 15 Korean MPE corporations and local corporations such as Tata and Micron.
Kang Kyung-sung, president of KOTRA, said, "Exports to India surging more than 30% through August means that opportunities in a vast market are coming to the fore amid a global supply chain realignment," and added, "We will take the lead in maximizing follow-up results to summit diplomacy and diversifying exports to India and overseas expansion from MPE to consumer goods to open the 'Korea-India $50 billion trade era by 2030.'"