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The bilateral commerce between India and Korea grew 40 per cent to USD 23.7 billion in 2021, in line with Korea Commerce-Funding Promotion Company (KOTRA). In 2020, the worth of bilateral commerce between the 2 international locations was at USD 16.9 billion.
KOTRA is the financial division of the Embassy of the Republic of Korea in India.
Based on KOTRA, the knowledge on commerce was disclosed by the Ambassador of the Republic of Korea to India Chang Jae-bok whereas inaugurating the 4th version of Korea Honest in India (KFI) 2022 in New Delhi on Wednesday.
“Korea and India have a powerful financial partnership and that’s quickly increasing. Bilateral commerce between the 2 international locations reached USD 23.7 billion in 2021. This was the highest-ever commerce quantity between the 2 international locations, a 40 per cent improve over USD 16.9 billion (in 2020),” KOTRA mentioned in an announcement on Thursday quoting the ambassador.
As per KOTRA, Korea made report imports of USD 8.06 billion from India in 2021. Through the 12 months, all main imported objects from India together with iron ore (215.5 per cent) and aluminum (143.6 per cent) imports have proven a major improve.
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