by A. Venkataraman, EVP, Mission Critical Supply Chain division.
India has had strong bi-lateral trade ties with many countries. The fifteen largest trading partners of India represent almost 60% of total trade by India in the financial year 2015-2016, according to Ministry of Commerce. South Korea comes within the top ten.
Korea, on the business front, that has been recognized has one of the fastest growing economies in the world. A major part of the success of this country has come through the progressive economic policies that have been implemented to further business interests. Korea has managed to turn itself into a high-income country and become the 11th largest economy in the world in just a few generations.
The last few months has seen India and Republic of Korea exploring new avenues of investments. Both countries have agreed to give further momentum and redouble efforts to realise raising the quantum of bilateral trade to USD 50 billion by the year 2030, at the 9th India-Korea Joint Commission Meeting held last month.
To augment this, Wevio, a global business development company, is paving the way for Korean giants from a variety of businesses to make their way into India. The company is bringing together the two nations- overcoming every obstacle that may prove a hurdle in the way of progress, which is bound to enhance trade further. Wevio is striving to ensure trade is conducted smoothly, effectively eliminating any obstacles that may stand in the way. Thanks to this, several Korean giants are now entering India, in Heavy industries, Technology, Automobile, Freight Forwarding, Pharma industry etc. In large businesses like these, a significant amount of faith is put in the companies that partner themselves as 3PL providers to manufacturers. This is because warehousing, imports/exports and transportation involve a substantial amount of time of the product spent under the supervision of the 3PL service provider. In these conditions, the confidence that is induced by a solid track record is invaluable and carries the signs of a hurdle-free supply chain process.
ProConnect prides itself to be considered by Wevio as the company that is worthy of the trust of international corporations that are making their way into the Indian market. Heavy industries from Korea that specialize in a multitude of businesses like electronics, automotive products, home appliances and more, would now be able to enter the Indian market with their 3PL requirements managed by ProConnect.
ProConnect is identified as the key 3PL provider, for services like Warehousing, Transportation, Imports / Exports, Product Screening and Testing for IT and Telecommunication products etc. With the promise of addressing key points of optimization in the supply chain process, ProConnect vows to uphold the highest quality of logistical services to the partner companies. Delivering cost-effective and speedy solutions to every possible problem has been ProConnect’s passion and it is with the same passion that the 3PL services will be executed. ProConnect feels privileged and many opportunities are expected as The Indo-Korea Trade Ties move forward.