IndiaMART.com & Korea Trade-Investment Promotion Agency Announce Joint Initiative to Support Korean & Indian SMEs
• Assist in increasing bilateral trade between the two countries
• Mr. Kim Dong-Sun, Administrator, Small & Medium Business Administration provides impetus to the initiative with his presence
• Mr. Dinesh Agarwal, Founder & CEO, IndiaMART.com delves on how the alliance would benefit SMEs in both countries
• Mr. Moon Seok Choi, Director General, KOTRA, New Delhi also graced the occasion
New Delhi, 23rd March, 2011: Opening a new chapter in the bilateral trade relations between India and Korea, IndiaMART.com, India's largest online B2B marketplace along with Korea Trade-Investment Promotion Agency (KOTRA) have joined hands to open growth avenues for both Indian and Korean Small and Medium Enterprises (SMEs). IndiaMART.com alongwith KOTRA, today, announced the launch of online business matchmaking platform 'Korean Products Pavillion' on IndiaMART.com – www.indiamart.com/korea – bringing Indian buyers and Korean suppliers at the same market place.
Mr. Kim Dong-Sun, Administrator, Small & Medium Business Administration, South Korean Government provided impetus to this initiative with his presence at the launch ceremony which took place at Korea Business Incubating Center, New Delhi. Also, present at the event, Mr. Dinesh Agarwal, Founder and CEO, IndiaMART.com elaborated on the growth opportunities to be provided by this new Korean Products Pavillion to both Indian and Korean SMEs. Korean contingent comprising of Mr. Moon Seok Choi, Director General, KOTRA New Delhi, along with other KOTRA officials, SMBA officials and Korean Business representatives in India were also present at the launch. This alliance seeks to establish strong business networking relations between the two countries.
Delving on the significance of the Joint Initiative, Mr. Dinesh Agarwal said, “Both India and Korea are witnessing an upswing in their bilateral trade with the estimate standing at around $24 billion for the next five years. This high growth scenario gives us a perfect opportunity for a strategic alliance with KOTRA to jointly catalyse business opportunities between SMEs in India and Korea. IndiaMART.com, today, proudly plays host to over 1 million registered and nearly 5 million global buyers across various industries and verticals. Together with KOTRA, we are aiming to replicate our success with Korean suppliers too and help them reach out to Indian buyers."
Upbeat about bilateral trade between India and Korea, Mr. Kim Dong-Sun said, “I believe that this initiative will strengthen bilateral trade between the two countries - Korea and India...There is a good scope for Korean businesses in India. For this, IndiaMART.com, as a leading B2B company, will play a very good role in promoting Korean businesses. To begin with, there are 19 Korean suppliers which are registered with IndiaMART.com. In next two-three months, we are expecting around 100 Korean businesses to explore Indian market through IndiaMART.com.”
A landmark event for Korean suppliers and Indian buyers, the initiative will enhance trade prospects and boost online business between them. As part of the alliance, IndiaMART.com will host an exclusive Korean Products Pavillion on its website which will allow Korean suppliers to showcase their businesses, products and services and thus, seek business partnerships with a large number of Indian buyers who frequently use IndiaMART.com for their sourcing needs. All the listed Korean companies will be able to access the Indian market through IndiaMART's wide network.
Through this joint initiative, Indian businesses will also get access to a large number of Korean products and services. They will be able to interact with Korean suppliers as per their sourcing requirements. Aggregation of multiple suppliers on a single platform would enable them to derive a good value and get better quality products and services to meet their needs. They will also be able to benefit from the business services extended by KOTRA to facilitate easy trade between India and Korea.
IndiaMART.com is India's largest online B2B marketplace connecting global buyers with suppliers through business directories, online product catalogs, buy-sell offers, industry specific marketplaces, printed media and trade shows participation.
Founded in 1996 by Mr. Dinesh Agarwal (CEO), the company has a pan-India presence in over 100 cities. With over 3500 employees located across 71 offices in the country, IndiaMART.com offers an extensive range of value- added products and services to its 1 million registered members and nearly 5 million global buyers across various industries and verticals.
IndiaMART.com has won numerous awards over the years and has been widely covered by media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times, Financial Express, etc for its pioneering role in promoting SME business in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd (Times Group), India's largest print media group.
For more information, please visit: www.indiamart.com/press-section & www.indiamart.com/korea
KOTRA serves as a bridge between Korean exporters and overseas buyers. Vested with a well-balanced industrial structure, Korea is highly competitive in a range of output from traditional manufactured goods to high-tech products. KOTRA helps foreign buyers get quality products at the most competitive prices through business matchmaking, international exhibition and e-Trade.
IndiaMART InterMESH Ltd
Manager - PR
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release IndiaMART.com & Korea Trade-Investment Promotion Agency Announce Joint Initiative to Support Korean & Indian SMEs here
News-ID: 167897 • Views: 1126
More Releases from Indiamart Intermesh Ltd
GST network rollout by Aug ’12 positive for MSMEs, says IndiaMART CEO Dinesh A …
Implementation of GST welcomed Appreciate allocation of Rs.5,000 cr to SIDBI for venture fund for MSMEs New Delhi, 16th March, 2012: Sharing his views on the Union Budget 2012-13, Mr. Dinesh Aagarwal, Founder & CEO, IndiaMART.com, India's largest online B2B marketplace, said, "“We welcome the Union Budget 2012-13 presented by the Hon’ble Finance Minister (FM) today. While the FM called for speedy reforms today, the Budget did not indicate much in that direction.
Delayed GST - major cause of worry for MSMEs, says IndiaMART CEO Dinesh Agarwal
•Two key expectations from Budget: 1)Simplify & unify taxes 2)Build basic infrastructure for MSMEs to flourish •Undivided attention from policymakers to reduce credit crunch •Expand ambit of CGTMSE to accommodate & benefit more MSMEs with collateral free financing New Delhi, 10th March 2012: With the ongoing pre-budget phase of Union Budget 2012-13, the most fertile minds of Indian Micro, Small and Medium Enterprises (MSMEs) are already discussing desired outcomes for next fiscal and bringing forth
IndiaMART Emerges Key Contributor to growth of SMEs in Engineering Sector
-Provides complete online business solutions to augment their business growth -Online activity among SMEs on B2B marketplace almost doubles in the sector in 2011 as compared to 2010 New Delhi, 30th January, 2012: India's engineering sector expresses the best of country's economic development constituting 12% of the total economy. Fortifying its presence further, IndiaMART.com, India’s largest online B2B marketplace, has emerged on top as a key contributor to the growth of Small
Global Fragrances Pvt. Ltd.'s aromatic win at 'ET NOW-IndiaMART Leaders of Tomor …
-Mr. Somesh Choudhary, MD, Global Fragrances Pvt. Ltd. acknowledged as winner under FMCG & Consumer Durables Category -Expressed gratitude towards IndiaMART.com and ET NOW for the recognition New Delhi, 17th December, 2011: What else could make a day beautiful; an evening unforgettable and a night worth remembrance than a hypnotizing fragrance! Aromatic products from the bouquet of fragrances offered by Mr. Somesh Choudhary, Managing Director, Global Fragrances Pvt. Ltd., are not only
More Releases for India
Medical Tour India | Affordable Treatment In India
We at MedCredible look after the well being of the patients seeking treatment in India. Our support staff support is well trained in handling various situations arising due to cross border differences. All the patients can avail of high-quality treatment at an extremely affordable cost in a compassionate environment combined with ethical practices. With options of over 100 + Hospitals and Institutions, we at Medcredible ensure that we connect the
IVF India, Test Tube baby India
The aim of setting up KJIVF is to help infertile couples in achieving conception through modern diagnostic and treatment methods. KJIVF Centre has given the best results by blessing infertile couples of advanced age with children, these couples could never dream of becoming parents. Thousands of babies are conceived through in-vitro fertilization (IVF) each year; In-Vitro Fertilization (IVF) means fertilization outside the body. A baby developed from an egg that
Beach Holiday India- Best Beaches in India
The natural beauty, exotic locations and rich heritage has helped India to stand as the most visited and most popular tourist spot in the world. The status of “Incredible India”, is defined by an incredible range of nature’s blessings on the Indian subcontinent and this incredibility is doubled by one of the most fabulous tourism option available in the country that are the brilliant and majestic beaches in India.
ISO 27001 India, 27001 training India ISO
Coral eSecure is information Risk Management advisory with specific focus on Information Security (ISO 27001, ISO 17799, PCI, COBIT, HIPAA, GLBA, and DPA), Business Continuity (BS25999) and ITIL/ IT Service Management (ISO 20000). Coral is the FIRST Indian consulting organization which provides an Integrated Management System Consulting, Consisting of ISO 27001, ISO 20000 and BS25999 – ALL THREE IN ONE! Coral provides Consulting, Assurance audit and Training to address these
Interior Designers India, Designers and Architects India
Today, we have recognized ourselves as a booming beauty interior designing firm, offering services that include interior designing. We are a winning firm, which is based on the strong foundation of innovative and original ideas for interior, architectural and landscaping designing services. Synergy Corporate Interior Design Association has more corporate members. Who provide Products and services. We support Interior Designers India, Designers and Architects India. We are committed to the
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer. During the domain registration process, you will