Need to develop close synergies between Indian and Korean Rubber Industry: AIRIA

Ludhiana, June 16, 2016: With a view to foster ties with East Asia under Act East policy of the Government, a high profile business delegation comprising Rubber Industry entrepreneurs will be visiting Taiwan and South Korea from 20-25 June 2016. The visit is supported by Ministry of Micro, Small and Medium Enterprises, Govt. of India. The Delegation will be led by Shri Mohinder Gupta – President All India Rubber Industries Association (AIRIA) and Managing Director of Vinko Auto Industries.

The visit of the rubber industry delegation comes in the wake of India’s growing trade with Taiwan and Korea. The visit is intended to further enhance & expand business collaboration particularly opening up new opportunities for the Indian MSME sector by way of new markets, joint ventures, sharing of best practices and technology collaboration.

“Taiwan is very active in R&D, product innovation and in supplying quality products, which enable the development of international brands. The current changed economic scenario in Taiwan has opened up new trade opportunities for Indian entrepreneurs”, said Mr Gupta.

Both India and Korea are among the world’s largest producers of rubber and rubber products. Despite India and Korea having distinguished positions in the global rubber market, the bilateral trade on rubber and rubber products between our countries is comparatively small. We need to develop close synergies between the Indian Rubber Industry and the Korean Rubber Industry for the benefit of two countries, added Mr Gupta.

The main objective of the visit is to interact and network with the Rubber industry in both the countries, factory visits and industrial park visits; one-to-one business meetings, visit R&D facilities to get a better understanding of the technology and skills.

This Business Delegation visit will promote trade, investment, technical tie-ups, Joint Ventures strategic alliances, technology transfer, subcontracting partnership, export import tie-ups and also to explore business opportunities by identifying the areas of bilateral interest.

The visit of Indian delegation has been coordinated by India-Taipei Association in Taiwan, Taipei Economic and Cultural Center in India and Korea International Trade Association (KITA)