South Korea Is Expected To Establish Bilateral Cooperation With India'S Textile And Garment Industry.

< p > textile > a href= "http://www.91se91.com/news/index_c.asp" > clothing > /a > industry is an important industry in Korea. Data statistics show that the number of people engaged in textile industry in Korea accounts for 19% of the total number of employees in the industry.

The main export areas of Korean clothing are Europe, America, Japan and China, which have increased exports to China in recent years.

The annual trade surplus of the Korean textile industry is generally around 10 billion dollars, and the textile and garment industry accounts for 11.3% of the total value of manufacturing exports, of which 3.4% of the garment industry accounts for.

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The textile and garment industry is also the most important manufacturing industry in India, and the textile and garment industry accounts for about 12% of the total manufacturing industry in India.

In the past 10 years, the growth rate of India's textile and garment exports has been higher than the global average growth rate. The share of global exports has increased from 3.2% in 2000 to 4.2% in 2011. It is expected to reach 5.2% in 2015 and 8% in 2020.

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In recent years, India's share in the Korean import market is growing, but it is lagging far behind China, and the gap has been widening. P

In the 2002-2007 years, India's exports to Korea increased by nearly 4 times, from 1 billion 250 million US dollars to US $4 billion 620 million, and the market share increased from 0.8% to 1.3%, but India still lags behind China's share of < a href= "http://www.91se91.com/news/index_c.asp" > Korea market < /a >.

In the 2002-2007 years, China's exports to Korea increased from US $17 billion 400 million to US $63 billion, and now China's share in Korea's global import market is about 18%.

More importantly, during this period, the market share gap between India and China has widened.

In the past 5 years, the growth rate of China's export to Korea has been stable at 26-35%, while India's exports to Korea have not only lagged behind China, but also been overtaken by three Southeast Asian countries.

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< p > recently, India industrial and commercial minister Anand Sharma and South Korean Minister of industry and Commerce held bilateral meetings. Mr. Sharma pointed out that the trade deficit between India and South Korea is gradually expanding, and that trade balance is conducive to the sustainable and harmonious development of India and South Korea's economic cooperation for a long period of time.

To promote a more balanced bilateral trade, South Korea needs to provide more market access for India's textile and clothing and information technology.

The South Korean Minister agreed to consider offering more market access to India products.

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< p > Korea has always attached importance to cooperation with India in the textile industry. Because of the prosperity and development of India's textile industry, South Korea's textile machinery company hopes to grasp the opportunity of India's "a href=" http://www.91se91.com/news/index_c.asp "textile > /a" market, and increase the export intensity of textile machinery.

Embroidery machinery is the most demanding item in the textile machinery exported to India by South Korea.

The bilateral meeting of the two governments is expected to further strengthen cooperation in the textile and garment industry to promote the development of the textile and garment industry.

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