Maharashtra State Industries Minister Mr Subhash Desai and KOTRA Vice-President Mr Kim Doo Young inaugurated Korean Expo 2016 at the Bombay Exhibition Centre. Korea is amongst the Top 6 (it was Top 7 in 2015) import sources for India during January-September 2016 with India importing a total of US$ 8.9 billion (-8.7%) as compared to US$ 9.8 billion in 2015 (Jan-Sep).

Mr Subhash Desai, Maharashtra State Industries Minister, said, “Maharashtra has attracted 50% of the total Foreign Direct Investment (FDI) coming to India in the last six months. With the growing strength of Maharashtra’s industrial development, Korea is keen to invest and partner the State in terms of exchange of ideas and technologies. There are several emerging opportunities such as the development of Aurangabad in the Mumbai-Delhi corridor and the new international airport therein; industrial parks in Khed, Nagpur and Chakan. Korea can partner Maharashtra to create international hubs with 10 smart cities and 100 smart villages. We are exploring partnerships with Korea to create small business centres and Startup hubs in Maharashtra. We are exploring sustainable business initiative partnerships including the use of tidal power and renewable energy projects.”

Mr Kim Doo Young, Vice-President, KOTRA, said, “India & Korea are amongst the top four economies in Asia and they have a long history of collaboration. Prime Minister Mr Narendra Modi’s ‘Make in India’ mantra has become familiar terminology amongst world economists. The new driving force for Korean exports comprises beauty, wellness, fashion, health and household products and brands. Korean Expo is a wonderful opportunity to showcase Korea’s consumer brands along with industrial acumen. We also intend to display innovative products such as glass food containers, POS receipt printers, Mobile receipt printers, orthopaedic synthetic casting tapes, body composition analyzers, anti-wrinkle creams and fogging machines amongst others.”  

Korea Trade Investment Promotion Agency (KOTRA), in association with FICCI, is organised the Korean Expo 2016 from 19th to 20th December 2016 at the Bombay Exhibition Centre in Mumbai, in the presence of several prominent bureaucrats and corporate personalities from India and Korea – Embassy of Republic of Korea, Korean Association President, KIDP President, Ministers from Union and State Governments, Honorary Ambassador of foreign investment promotion for Korea, Indian Merchants Chamber, All India Association of Industries, Small & Medium Biz Development Chamber of India and Retailers Association of India.