South Korea is a significant market for Indian agricultural exports, with a diverse range of products meeting its demand.
Bilateral trade between India and South Korea stood at US$18.35 billion in FY 2026, with India exporting 3,702 commodities to Korea. Major exports include machinery, mineral fuels, organic chemicals, aluminum, and iron and steel. The Comprehensive Economic Partnership Agreement (CEPA) between the two countries is under review, aiming to enhance trade relations and address non-tariff barriers.
China competes with India in supplying machinery and organic chemicals to South Korea, often offering competitive pricing and established trade relationships.
Japan is a key competitor in the machinery and aluminum sectors, known for high-quality products and technological advancements.
| HS code | Product | Duty | Notes |
|---|---|---|---|
| 84 | Machinery | Varies by subcategory | Tariffs depend on the specific machinery type; CEPA aims to reduce these duties. |
| 27 | Mineral fuels | Varies by subcategory | Duties are specific to the fuel type; ongoing CEPA discussions may lead to reductions. |
| 29 | Organic chemicals | Varies by subcategory | Tariffs vary; CEPA negotiations seek to address these disparities. |
An original invoice detailing total value, unit value, quantity, product description, and shipping information.
Certifies the product's origin; exporters should consult with importers for specific requirements.
Two copies detailing the contents of the shipment.
A clean bill of lading identifying shipper, consignee, port of destination, cargo description, and freight charges.
Sea freight is the most common method; costs fluctuate based on fuel prices and shipping demand.
| Product | India mandi rate | South Korea landed price | Margin |
|---|---|---|---|
| Machinery | $500,000 | $550,000 | +10% |
| Organic chemicals | $100,000 | $110,000 | +10% |
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