IndiaMART.com Partners With Korean Agency To Launch Marketplace

B2B E-commerce portal IndiaMART.com and Korea Trade-Investment Promotion Agency (KOTRA) have partnered to launch an online business "matchmaking" platform called 'Korean Products Pavilion'. It is aimed at connecting micro, small and medium businesses in India to Korean suppliers.

Indiamart has set up a sub-site to this effect, which can be accessed at Indiamart.com/Korea.

To begin with, 19 Korean suppliers will be registered with the new marketplace following which 100 Korean businesses will join the site, Kim Dong-Sun, Administrator, Small & Medium Business Administration, South Korean Government said. They will be able to showcase their businesses, products and services on the marketplace while Indian businesses will be able to interact with Korean suppliers through the e-commerce platform.

"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. Together with KOTRA, we are aiming to replicate our success with Korean suppliers too and help them reach out to Indian buyers," said Dinesh Agarwal, Founder & CEO, IndiaMART.com. The portal has 5 million global buyers, of which 1 million registered companies are in India.

"There is a good scope for Korean businesses in India. For this, IndiaMART.com, as a leading B2B company, will play a very good role in promoting Korean businesses," said Sun.

Indiamart.com reaches 100 cities and is ramping up quickly. It has added 1100 employees in the past 2 months, going by the corporate website. In January 2011, according the corporate website, the company had 2400 employees and 55 offices, it now employs 3500 in 71 locations in India.