Embassy of the Republic of Korea to the Republic of India

In 2024, the trade and investment relationship between Korea and India demonstrated significant growth, with the bilateral trade volume reaching the second-highest level on record.

The total bilateral trade volume for 2024 was $25.1 billion, an increase of 1.87% and the second-highest total ever. Korean exports to India also reached their second-highest level at $18.7 billion, a 4.2% increase from the previous year. This strong performance, coupled with a decline in imports from India, led to a record-high trade surplus of $12.3 billion.

In the second half of the year (July-December), total trade volume was $12.7 billion, a slight decrease of 0.4%. However, exports during this period remained steady, growing by 0.7% to $9.38 billion, while imports decreased by 3.5% to $3.32 billion.

Additionally, Korean investment in India saw a substantial increase. For the period of January to September 2024, Korean investment surged by 20% year-on-year to $420 million, driven by India’s strong domestic market and "Make in India" manufacturing policies.