South Korea will begin importing Indian mangoes from July, a move which could significantly boost exports of the summer fruit.
Ambassador of Korea to India Hyun Cho said that from next month "Korea will start importing Indian mangoes".
According to an industry expert, there were certain grey areas in sanitary and phyto-sanitary issues which have now been resolved by both the sides.
"Korea has notified this move on June 7. The pre-shipment inspection will be done by the Korea Animal and Plant Quarantine agency. Indian mangoes would compete in Korean markets with varieties from Pakistan. Vietnam, Thailand and Philippines," Federation of Indian Export Organisation Director General Ajay Sahai said.
India exports around 41,000 tonnes of mangoes every year to several destinations in West Asia, the US, Australia, Canada and New Zealand.
European Union and UAE are the top two export destinations for Indian mangoes. It had exported mangoes worth USD 50.7 million in 2013-14.
The Ambassador also said that India's economy will grow at higher rates in the coming years on account of its strong domestic market and "good policies" of the Prime Minister including initiatives like Make in India, Skill India and Digital India.
Speaking at the same event, FICCI president Harshavardhan Neotia said that both countries would launch "Korea Plus" tomorrow.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
