Machine Tools

IBDAC ran a special delegation of Machine Tools with 8 South Korean Companies who were looking to find partners in Indian Market. This delegation was shared with us by a Private consulting firm in Korea.

Mainly the Broad Categories are as below:

SMT Mounting Machine, CNC Laser Cutting Machine, CNC Drilling Machine, Wire Cut EDM, Electronic Control Unit Cooling, Automatic Temperature control module, Cutting Tool End Mill.

Target: Managing Delegation and Online Meetings with Korean Companies

Each of the Korean Companies had Five to Seven Years of Experience in the Indian Market. However, they were not satisfied with their existing partners and therefore, requested IBDAC to search for reliable partners in Indian Market.

WORK PROCEDURE – MARKET RESEARCH AND IDENTIFICATION OF KOREAN COMPANIES.

In the first phase, IBDACprocured the details of their existing partners in the Indian Market and understood their existing strategies. We conducted a market survey to understand the exact potential of each Korean companies in the Indian Market. Most of the Korean companies were facing fierce competition from Japanese, USA & Chinese Companies who had very aggressive margins for their distributors.

Based on our survey we found that some of the Indian partners were performing well in the given competition of Indian Market and for better result it will be sensible for both parties to give each other some more time to get better results from Indian Market.

Few Other companies in CNC machines segment had very good potential and therefore successfully concluded online meetings.

Result: 12 Plus meetings. 2 Distributor agreements signed within 1 month of the delegation and remaining companies working closely for future collaboration.