The fair began on May 14 with participation of 69 Korean firms; aims for contracts worth USD 1.5 million per firm

◇ G-Fair Mumbai began on May 14, providing small and medium-sized enterprises (SMEs) in Gyeonggi Province with opportunities to enter the Indian market through market research and buyer development. Pictured: Scene from G-Fair Mumbai held last year. ⓒ Gyeonggi G-News

Gyeonggi G-Fair (Korean Product Show), the only exclusive exhibition hosted by Korea in India, began on May 14.

Economy & Investment Office Assistant Governor Choi Hyun-deok, Consul General of the Republic of Korea in Mumbai Jang Seok-gu, Gyeonggi Small & Medium Business Center President Hong Ki-hwa, and KOTRA Mumbai Trade Director General Kim Yong-chan attended the opening ceremony held at 11 a.m. (local time) on May 14 at the InterContinental Lalit Mumbai in India.

The opening ceremony was attended by over 200 participants including Maharashtra Industrial Development Corporation (MIDC) CEO Bhushan Gagrani, All India Association of Industries President Vijay Kalantri, World Trade Centre Mumbai Executive Director Warerkar, and GBC Mumbai Regional Director Janesh Nair.

Marking the 6th G-Fair Mumbai this year after its launch in 2009, the event was held until May 15 with the participation of over 2,000 firms and buyers from India as well as Southwest Asia.

Gyeonggi Province had already established the Gyeonggi Business Center (GBC) in Mumbai in 2005 for advanced entry into the Indian market prior to the signing of the Korea-India Comprehensive Economic Partnership Agreement. Since 2009, the province has hosted the G-Fair Mumbai every year to help Gyeonggi Province’s firms enter the 1.2 billion-person Indian market.

The main items this year consisted of those that hold promise in the Indian market such as daily consumer goods, IT/electronics, components and machinery. A total of 60 excellent SMEs from Korea (60 from Gyeonggi Province and 9 from other cities and provinces) participated in the event to develop avenues into the Indian market.

Moreover, the province has agreed to cooperate with India’s biggest B2B website – Tradeindia.com – for publicity and the attraction of potential buyers in India. Based on the awareness it has developed thus far, the province aims to realize USD 180 million (KRW 180 billion) in export consultations, exceeding last year’s figure of USD 171.55 million (KRW 170 billion), and achieve at least USD 1.5 million (KRW 1.5 billion) per firm.

“Since tariffs on trade items between the two countries have been equally reduced over 5 to 8 years following the effectuation of the Korea-India CEPA, we expect to see a gradual increase in its efficacy,” said Economy & Investment Office Assistant Governor Choi Hyun-deok, anticipating the good performance of firms at G-Fair Mumbai.

Gyeonggi Province also plans to host a global G-Fair in Shanghai and Jakarta this August and November, respectively, to explore those emerging markets. For more details, please contact Gyeonggi Province’s Global Marketing Team at 031-8008-4882.

ⓒGyeonggi G News | Lee Jun-gyun eyekle@hanmail.net 

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