The rapid growth of the Indian economy has recently led to a rising interest among other countries regarding the sustainability and direction of India’s economic emergence. Its growth has provided an incentive for major economic powers such as the USA, Japan, China, EU etc. to enter the Indian market and expand their trade volume and investment with India.
Consequently, such increases in exports and investment from other countries have spurred changes in the industrial structure of India. Because of the recent increase in the market share of other countries in India, Korean firms in India now face higher competitive pressure in the Indian market. This necessitates better, diverse strategies in order to respond to the changes occurring in the Indian economy and the rising competition in the Indian markets.
Considering these issues, we begin the paper by analyzing the structural changes of the Indian economy and competition over India’s market. Then in the second chapter, we analyze the changes of industry, export and import, and competition in terms of market share. The results can be summarized as follows: First, the share of service compared to that of manufacturing has increased, implying that India’s economy has grown in parallel with service-oriented industries.
We also found that ‘center of gravity’ of manufacturing in India has shifted from labor-intensive industries to capital-intensive industries. Second, while exports have had a major role in India’s growth, the amount was smaller in relative terms to those of other developing countries. It implies that India’s economy depends more on the domestic market than trade. Third, India depends more on private consumption than fixed capital formation or other similar aspects, with respect to the determinants of aggregate demand.
Fourth, the major industries have experienced structural changes, as the share of textiles and its products have decreased and those of other manufacturing, especially electrical and optical equipment, have increased in the exports. As for imports, the ratio of other manufacturing, basic metals and fabricated metal, chemicals and related products, and electrical and optical equipment have increased. Fifth, the ratio of intermediate goods is higher than that of final goods in terms of the production process.
It means that entry strategies of Korean firms need to focus on intermediate goods. Sixth, even though the major trade partner for India is the USA, China’s share in the Indian market has undergone a significant increase. On the other hand, the import ratio of EU has decreased. Seventh, in measuring the effect of creation of value-added from major countries that export to India, USA is still the most influential. However, its ratio has been declining quickly, while there has been rapid growth on the part of China, meaning China has become the most important country for India in terms of trade.
In the 3rd chapter, the changes within the domestic market and promising industries in India are identified. First, we have identified chemicals and related products, basic metals and fabricated metals, electrical and optical equipment, machinery, and transport as the most promising industries in India in view of growth rate and size of the domestic market and imports. In the 4th chapter, the competition structure of major countries compared to Korea in the said five industries is analyzed.
The results show that Korea has lost its competitive edge vis-a-vis China and EU 15 in those industries, even though it still holds advantages over USA, Japan and ASEAN. In Chapter 5, we provide several political implications for the Korean government and companies in need of economic cooperation with India. First, the Indian economy depends more on its domestic market than exports, and has grown alongside industries that are heavily engaged in import and investment.
Thus, Korean firms need to focus more on the Indian domestic market, in addition to formulating proper entry strategies. Second, capital-intensive industries will claim a greater proportion of the Indian economy because the share of labor-intensive industries has been reduced and that of capital-intensive industries have recently experienced rapid growth. It implies Korean firms’ strategies for entry and economic cooperation strategies need to focus on capital-intensive industries.
Third, the high utilization ratio of most industries shows that the strategies are also necessary for the establishment of bases of production and entry into manufacturing industries. Fourth, a strategy is also needed for expansion of trade for import-oriented industries. Fifth, more strategies in response to China’s expansion in India’s market is imperative, given the aggressive entry of numerous Chinese products into the Indian market.
Sixth, the entry strategies at the industry level are needed, considering the increased competition with major countries in India’s market. Finally, Korea needs to enter the infrastructure sectors where the Indian government has recently invested heavily. 

국문요약

제1장 서론

1. 연구 배경 및 목적
2. 연구 방법 및 범위
3. 연구의 한계

제2장 인도의 산업구조 변화와 주요국의 영향

1. 분석 개요
2. 생산액 및 부가가치 구조 변화 분석
3. 총수요 및 수출입 구조의 변화
가. 총수요의 구조 변화
나. 수출입구조 변화
4. 부가가치 창출 및 생산 과정에서 주요국의 영향
가. 인도 부가가치 창출에 대한 주요국의 영향
나. 인도 생산에 대한 주요국의 영향

제3장 내수시장 구조 변화와 주요 유망산업

1. 산업별 내수시장 성장 추이와 주요 성장산업
가. 인도 내수시장의 구조 및 특징
나. 인도의 유망 내수시장
2. 주요 유망산업의 현황 및 관련 정책
가. 화학
나. 기초 및 조립 금속
다. 기계
라. 전기 및 광학 기기
마. 수송기기

제4장 인도의 유망산업과 주요 국가간 경쟁구도

1. 내수시장의 현지 상품과 수입품의 점유율 변화
2. 수입시장의 주요국별 경쟁관계 변화
가. 시장비교우위지수 분석
나. 수출유사성지수 분석
다. MSER-ESDR 경쟁분석
3. 소결

제5장 인도 주요 내수시장 진출전략과 시사점

1. 인도 내수시장 진출전략
가. 주요 분석결과 요약
나. 인도 내수시장 진출전략
2. 정책적 시사점
가. 성장견인 산업 중심의 협력관계 도모
나. 경쟁력 약화 분야 조사 및 적극 대응
다. 한？ 인도 CEPA 개정과 내수시장 진출 연계
라. 글로벌 가치사슬 지도 작성 및 해외 동반진출 시스템 구축

참고문헌

부록: 산업별·국가별 EDSR-MSER 경쟁력 분석

Executive Summary