Business
‘G-Fair Korea 2018’ – Korea Sourcing Fair celebrates 10th Anniversary in Mumbai
‘G-Fair Korea 2018’ provides an opportunity for Indian companies to –
• Source New & Innovative Products and Suppliers from Korea
• Develop & Expand Business through Joint Ventures and Partnerships
• Take up Distribution of Korean Products for Indian subcontinent
• Source New Business Opportunities in lieu with CEPA Free Trade Agreement (Benefit from 0% Import duties on more than 88% Korean Products)
• Educate Oneself with Trends in Market
• Network with Like-minded Business people.
‘G-Fair Korea’ is a leading Korean Sourcing Fair, which is known to bring the best of Korean Products and Technology to the Indian Sub-continent since 2009. This year, celebrating a decade in building businesses, beyond borders, the event and was inaugurated by Honorable Minister Shri Deepak Vasant Kesarkar (Minister of State for Home, Finance & Planning, Government of Maharashtra) and the eminent dignitaries from South Korea and India on May 16, 2018 at Hotel Sahara Star, Mumbai.
Dignitaries from South Korea who marked their present at the event were Mr Jongchul Lim (Assistant Governor for Economy of Gyeonggi Province), Mr Soung-Eun Kim (Consul General of the Republic of Korea in Mumbai), Mr Ik Suk Choi (Executive Director of GBSA), Mr Dongwon Lee (Director of KOTRA Mumbai), Mr Muhyun Jang (President of Mumbai Korean Association), Mr Hyunsuk Choo (President of Pune Korean Association).
Dignitaries from India who were present at the event are as follows: Mr Chandrakant Salunkhe (Founder & President of Small & Medium Business Development Chamber of India), Dr Lalit Surajmal Kanodia (President of IMC Chamber of Commerce & Industry), Mr Vijay G. Kalantri (President of All India Association of Industries & Vice Chairman of WTC Mumbai), Mr YR Warekar (Executive Director of World Trade Centre Mumbai), Mr Manpreet Singh (Chairman of International Relations, Maharashtra Chamber of Commerce & Industry), and Mr Janesh Nair (Director of GBC Mumbai).
This 2 days trade event, not only showcases innovative products and technologies ranging from beauty and wellness, consumer products and kitchenware, industrial & building materials to electronics & electrical devices from over 200 Korean suppliers; but also seminars are planned alongside the exhibition to provide vast opportunities for Indian companies to deal and interact face to face with quality Korean suppliers in a vibrant business environment for the 10th consecutive year.
Korea is the land of the most advanced automobiles, cutting-edge technology, and superior gadgets, making it the country with the most innovation patents in the world today. 40% of Korea’s national output comes from the province of Gyeonggi – which is a beautiful amalgamation of the past and present- of culture and technology. As the center of high-tech industries – including IT, semiconductors, displays and mobile phones – Gyeonggi-do is a nest to world-renowned Korean brands such as Samsung, LG, Hyundai, Kia and SK Hynix. This provides optimal investment opportunities for relevant Indian companies.
In the year 2009, India and Korea signed a free Trade agreement -CEPA (Comprehensive Economic Pact Agreement), which opened up numerous opportunities for both nations SMEs, along with almost 0% custom duties on more than 88% of Korean origin products. Since then, the transaction value of trade has increased from 62 Million USD in 2009 to 333 Million USD in 2017. India is world’s sixth-largest economy by nominal GDP and is also the fastest growing nation in the world in terms of GDP.
The country is a home to more than 1.3 Billion consumers and 48 million SMEs, a testament to the Indian entrepreneurial spirit.
Speaking on the occasion, Mr Janesh Nair (Director of GBC Mumbai) said, “Mumbai being the business centre of the Indian subcontinent, forms an apt location for access from all parts of India to the centre-stage of Korean products on display. The show has been doing extremely well for the past 10 years and still continues to be a Dias for great business networking. G-Fair will surely be a historic mark in the course of India – Korea Bilateral Trade.”
The Event is hosted by Global Inspiration GyeongGi-Do, Gyeonggido Business & Science Accelerator, GBC Mumbai and supported by Daejeon Business Agency, Chungcheongnam-do Economic Promotion Agency, Franchising Association of India, IMC Chamber of Commerce and Industry, SME Chamber of India, WTC Mumbai and All India Association of Industries.
The expo is ideal for Indian Importers, Manufacturers, Distributors, Retailers and Buyers to visit and is probably the only one platform dedicated to Korean Products in India with maximum focus on the SME sector.
For more information, please visit: http://mumbai.gfair.or.kr/exhibitor.do