KOTRA Supports Display Materials and Components Companies Entering the Indian Market

KOTRA, in collaboration with KDIA, the Indian Vedanta Group, and the Gujarat state government, announced on the 13th that they held the 'Korea-India Display Industry Cooperation Seminar and Consultation Meeting.'

This seminar and consultation meeting was organized to support the global expansion of domestic LCD component and material companies in response to the recent trend of the domestic display industry rapidly shifting to OLED. A total of 50 companies, including LCD cell manufacturing equipment companies and post-process testing companies, participated in the seminar to hear about Vedanta Group's display production project. Additionally, 40 companies conducted one-on-one consultations for export cooperation, among which 11 companies signed MOUs and NDAs for future close collaboration.

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The Indian Vedanta Group visiting Korea this time is a large corporation with annual sales exceeding $17 billion, producing petroleum, gas, copper, iron ore, renewable energy, and display glass through diversified global natural resource development. In 2019, it acquired Avanstrate, a display glass substrate manufacturer, and has been strengthening cooperation with Korea, Japan, and Taiwan.

Akash Hebbar, Head of Semiconductors and Display at Vedanta Group, stated, "Vedanta is establishing India's first display factory in Gujarat, India, which will become the core of the Indian display industry," adding, "We hope to build a display ecosystem together with many Korean companies, including excellent display component and material manufacturers, construction companies, engineering firms, logistics companies, and quality inspection companies."

Yoo Jung-yeol, President of KOTRA, said, "Based on India's abundant domestic market, the growth potential of the display industry is very high," and added, "Given the recent shift of the domestic display industry toward the OLED sector, we hope that this collaboration with Vedanta Group will greatly help small and medium-sized enterprises in the domestic LCD sector to enter the Indian market."

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