Paving the Way for Successful Market Entry in India, with its Population of 1.3 Billion

The best SMEs of Gyeonggi Province recently returned from a successful visit to India, where they managed to tap into a market of 1.3 billion people.

Gyeonggi Province and the Gyeonggi Small and Medium Business Center announced that they hosted G-Fair Mumbai 2009 at Grand Hyatt Mumbai in Maharashtra, India, between May 27 and May 28, 2009, in order to overcome the economic downturn and support the sales channel development of exporters.

Through G-Fair Mumbai 2009, 47 of the leading SMEs in Gyeonggi Province had opportunities to meet 567 buyers from India and the Middle East. SMEs of Gyeonggi Province held a total of 704 meetings, and won contracts worth USD 33.45 million. The value of the potential contracts consulted on reached USD 61.95 million.

Genesis I&C (CEO Lee Jung-Min), the producer of security devices and DVR (Digital Video Recorder) cameras, held more than 20 meetings at the Fair, and successfully entered into a contract worth USD 1.5 million with MCB India. It is expected that the company will increase its exports further, as three additional contracts are being discussed right now.

A.M Tech (CEO Song Geon-Ho), the producer of card readers and thermal bill printers, identified the fact that personal checks are widely used, but unlike bills, there is no copy of these checks. Armed with its advanced technology, the company gained high attention from buyers at the Fair.

A spokesperson for the Gyeonggi Small and Medium Business Center said, “The success of G-Fair 2009, the first event of its kind to be held in India, can be attributed to the experience that we built up by hosting the G-Fairs domestically, as well as the export meetings and the strength of our foreign trade facilitators’ team. In addition, we hosted local buyers with purchasing power in cooperation with GBC Mumbai, and matched participating companies and buyers for one-to-one meetings. The technological excellence of the companies from Gyeonggi Province also contributed to the success of this event.”

He added, “Based on the successful results and the high attention we received from local buyers at the 2009 G-Fair Mumbai held in India, we plan to host the event every year. In the second half of the year, we plan to continue the success of G-Fair by hosting it in Santiago, Chile, in order to capture buyers from Latin American countries, such as Brazil and Chile.”