& Korea Trade-Investment Promotion Agency Announce Joint Initiative to Support Korean & Indian SMEs

Tuesday, March 22, 2011

Launch an exclusive Korean Products Pavillion on to help Korean SMEs connect with Indian Buyers & vice versa

NEW DELHI, March 23, 2011 - Opening a new chapter in the bilateral trade relations between
India and Korea,, 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). alongwith KOTRA, today, announced the launch of online
business matchmaking platform 'Korean Products Pavillion' on - - 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,, 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., 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
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,, 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
In next two-three months, we are expecting around 100 Korean businesses to
explore Indian market through"

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, 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 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.

About 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, 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. 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: &


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

    Media Contacts

    Pawandeep Kaur
    Manager - PR
    T: +91-120-3911000
    F: +91-120-2424943

Pawandeep Kaur, Manager - PR, T: +91-120-3911000, F: +91-120-2424943, E: pr at

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