Singapore and Various Asian Nations Discuss Trade opportunities in South India
By: Asia Business Outlook Team | Wednesday, 01 March 2023
Singapore, Japan, South Korea, and Taiwan are exploring business and trade opportunities in South India in sectors such as digital commerce, food, green technology, and healthcare, according to Consul Generals in Coimbatore on Tuesday.
They were speaking at the Confederation of Indian Industry's (CII)-Coimbatore Zonal Annual Session and Conference on 'Mystic South - Future Ready Coimbatore'.
Singapore Consul General Edgar Pang stated that the country was well-positioned to take business relations with India to the next level, particularly in tier-II cities in Tamil Nadu. He added that the Singapore government was open to potential collaborations in healthcare and biotech.
According to Jules Shih, Director, Taiwan External Trade Development Council, Taiwan World Trade Centre, machinery and products for the fashion industry, packaging, and upgrading semi-conductors can be developed in Coimbatore.
Young-seup Kwon, Consul General of South Korea (Chennai), stated that there was a large potential for their country in Coimbatore because the city was abundant with Micro, Small and Medium-sized Enterprises (MSMEs), precision machinery, and water pumps. He predicted that trade and investment would reach $50 billion by 2030 as a result of rapid economic growth and strong bilateral ties.
Masayuki Taga, Consul General of Japan (Chennai), stated that the Indo-Japanese trade links must be strengthened further because the current situation is concerning, and the consulate anticipates more private sector investment following COVID-19.
During the interaction, the Consul Generals of Japan and South Korea stated that in addition to bringing delegates to India, interested entrepreneurs should visit their respective countries for new ventures.
According to TVS Supply Chain Solutions Managing Director Ravi Vishwanath, the session's focus was on promoting trade and commerce by these countries in Coimbatore.
Prashanth Subramanian, Chairman of the CII Coimbatore Zone, Bharat Fritz Werner Managing Director Ravi Raghavan, and several stakeholders and entrepreneurs were in attendance.