22 Korean Companies explore to forge New Partnerships with Indian counterparts

New Delhi, May 29, 2024 – The Korea-India Future Industry Partnership 2024, held in New Delhi, concluded with resounding success as 22 prominent Korean companies actively engaged with over 60 Indian companies exploring partnership possibilities. This significant event, organized by the Korea Trade-Investment Promotion Agency (KOTRA), aimed to foster substantial industrial collaborations between South Korean and Indian businesses, marking a new era of economic partnerships.

The highlight of the event was the dynamic interaction between Korean and Indian companies, exploring collaboration opportunities and forging new business relationships. Of the 22 Korean companies, six came to the event from Korea as rest were based in India.

Among the Korean participants were KHVatec India Pvt. Ltd., VINATECH CO. LTD, Samwha Electric, RMS Corporation Samhyun Co. Ltd, Taehwa Enterprises Co., CALS Corp., Myung-jin Precision Ind. Co. LTD., CALAB Co. Ltd., Jeil Solutec. Co. Ltd, ODA Technologies CO. LTD., Duck Il Industry Co. Ltd, Cheil Electronics Co. LTD, AA Studio Consulting Pvt. Ltd, POSCO International Corp, KOINS CO., LTD, ConRepair Co. Ltd, GS Global, CJ Darcl Logistics, Trustnbridge Global Trading Pvt Ltd, Heehoon Design Global, and Hyundai L&C India Pvt Ltd.

The event commenced with an opening speech by the Ambassador Chang Jae-bok of the Republic of Korea to India. Ambassador Chang emphasized the importance of the Korea-India partnership in driving economic growth and innovation. This was followed by a congratulatory address from Ms. Shradha Suri Marwah, President of the Automotive Component Manufacturers Association of India (ACMA), who highlighted the critical role of such partnerships in advancing the industrial capabilities of both countries.

A notable segment of the conference was the keynote presentation by Pankaj Agarwal, COO and Group Purchasing Head of Motherson Group. Agarwal’s insights into global strategic procurement provided valuable perspectives for attendees, showcasing the extensive reach and influence of the Motherson Group in the global market.

Representatives from the L&T Group, including M K Parthasarathy, Head of Procurement at L&T Building & Factories Division, and Bhadresh Pathak, Chief Executive of L&T Sufin, delivered impactful presentations. They discussed the latest trends in the Indian building and construction sector and the significant role of B2B e-commerce in expanding business operations within India. The highlight of their presentation was the announcement of the KOTRA-L&T collaboration to launch ‘K-Industries’ on the L&T Sufin B2B e-commerce platform, a move set to revolutionize industrial procurement and business expansion.

The conference featured dedicated sessions for one-on-one B2B meetings, allowing participants to engage in direct discussions and explore potential partnerships. These sessions were designed to provide a platform for detailed negotiations and collaborations, contributing to the establishment of strong business connections. The morning session of B2B meetings was followed by a networking lunch, where participants continued their discussions in a more informal setting. The afternoon session saw continued one-on-one meetings and discussions, facilitating deeper engagements and partnerships.

The Korea-India Future Industry Partnership 2024 underscored the potential for increased cooperation in diverse sectors such as construction, technology, and e-commerce. The event successfully highlighted the commitment of both nations to enhance industrial ties and explore new avenues for economic collaboration. The conclusion of this event marks a significant step forward in the bilateral relationship, setting the stage for future collaborations that will drive economic growth and innovation in both South Korea and India.

Overall, the Korea-India Future Industry Partnership 2024 not only facilitated immediate business opportunities but also laid the groundwork for long-term strategic partnerships. The success of this event is a testament to the strong and growing relationship between South Korea and India, promising a future of shared prosperity and mutual growth.