"Go Through India"... Gyeonggi-do Enters the 1.3 Billion Indian Market

64 Export Consultations, $8.12 Million · 62 Contract Negotiations, $2.68 Million Secured

Non-face-to-face Entry into Indian Consumer Goods Market [Provided by Gyeonggi Province]

[Asia Economy Reporter Ra Young-cheol] The Gyeonggi-do Trade Promotion Team has achieved a total of 64 export consultations and pursued contracts worth 2.68 million USD in the 1.3 billion Indian consumer goods market through non-face-to-face online market development.

According to Gyeonggi-do on the 27th, this achievement is attributed to the Korea-India Comprehensive Economic Partnership Agreement (CEPA), with companies producing consumer goods such as cosmetics and household items mainly participating in the trade promotion team.

In particular, the Gyeonggi FTA Utilization Support Center assisted participating companies in issuing certificates of origin for export items using the Korea-India CEPA, enabling them to reduce tariffs by up to 53%.

Cosmetics manufacturer Company A, located in Bucheon City, signed export contracts worth a total of 240,000 USD with four companies based in Kolkata, opening the door to the Indian market.

Company B, a Namyangju-based specialist in herbal shampoo and hair dye products, achieved contract results worth approximately 20,000 USD with two local companies interested in hair loss-related products.

The province plans to operate trade promotion teams in a total of 12 promising overseas markets, including Vietnam in May and China in September.

This content was produced with the assistance of AI translation services.