The Thailand-India Business Matching Week 2020 (Lifestyle Products) was held from 21-25 September 2020 (Monday – Friday). The essence of this trade platform was for SMEs, Brands & OEM suppliers from Thailand to connect with industry buyers from India to create new partnership opportunities by capturing the robust demand for trendy lifestyle products from Thailand.
More than 300 business matching meetings took place during the period of this business matching event and Indian buyers were positive about the quality of products brought to the table by the Thai exhibitors. The surge in business due to this interaction is estimated to amount to more than USD 6 million worth of business which will be generated over the course of the coming months.
On the sidelines of the Thai-India Business Matching Week 2020, Mr. Tananon Praichan, President, Institute for Small and Medium Enterprises Development (ISMED), Thailand, said, “India and Thailand will be more open to find more business opportunities and understand each other better. We strongly believe that Thailand – India Business Matching Week will help find “real entrepreneurs” to grow India-Thailand trade and economy. I am happy to say that we got an incredibly positive feedback from the participants. I would like to use this opportunity to thanks OSMEP and Worldex for their support and incredible teamwork.”
Overall, the Thai exhibitors were satisfied with the B2B meetings arranged over 5 days with leading Indian buyers. Many of them found this business matching event useful to build new relationships and to expand their market in India during the COVID-19 pandemic crisis. The biggest advantage was that the one-on-one online business matching would assist the suppliers and buyers to optimize their time and financial resources compared to a normal physical exhibition. Some of the key buyers that attended the B2B meetings were Mahindra & Mahindra, Bhawar Group, Mumuso Retail, Lifestyle International, Associated Buying Management, RC Toys, Tackersons, Raol Overseas and many more.
The Thailand-India Business Matching Week will bridge the demand-supply gap by boosting manufacturing and trading opportunities for Indian entrepreneurs. With India as a key business partner for Thailand, bilateral trade has increased 8 times since 2000 to reach US$ 12.12 billion in 2019 due to reduced tariff rates and new initiatives adopted by both countries. We hope such initiatives by The Office of SMEs Promotion (OSMEP) under the Office of the Prime Minister, Thailand and The Institute for Small and Medium Enterprises Development (ISMED) would further boost the trade and investment in both countries.
The Thailand – India Business Matching Week was organised by the and The Office of SMEs Promotion (OSMEP) Ministry of Industry, Thailand, supported by the Retailers Association of India (RAI) and the Small & Medium Business Development Chamber of India (SME Chamber of India).