The Gujarat Chamber of Commerce and Industry (GCCI) recently signed a memorandum of understanding with an official delegation from South Korea led by the country’s consul general in Mumbai Kim Soungeun for cooperation between small and medium enterprises (SMEs) in Gujarat and Korean firms, with a focus on automobile, defence, chemicals and textiles sectors.
Gujarat businessmen foresee a lot of potential in collaborating with South Korean companies, which have developed capabilities in manufacturing and technology. That would reduce dependence on China as well.
Partnerships with South Korean companies can help the lubricants, auto parts and defence equipment industry in Gujarat, media reports from the state quoted GCCI president Shailesh Patwari as saying. Kim saw a lot of potential in cooperation in textiles.