KOTRA Achieves $9.6 Million in Business Consultations Over Two Days in New Delhi, India

Participation in the '2024 Indo Delhi Architecture Exhibition'

KOTRA, together with the Gyeonggi-do Economic Science Promotion Agency, operated the '2024 India Delhi Architecture Exhibition (hereinafter ACETECH) Korea Pavilion' in New Delhi, India, from the 12th to the 15th, and announced on the 16th that it achieved 175 consultations and approximately 9.6 million USD in consultation results over two days.

ACETECH, which started in 2006 and is held annually, is recognized as the largest architecture exhibition not only in India but also in Asia, attracting over one million visitors each year. This year, about 4,095 companies participated, with over 5,500 exhibition brands, showcasing a wide range of products and solutions across 22 detailed sectors including building materials, interior design, and construction.

KOTRA and Gyeonggido Business & Science Accelerator operated the Korea Pavilion at the 2024 India Delhi Architecture Exhibition from the 12th to the 15th. Local buyers and visitors are seen conducting consultations at the Korea Pavilion site. Photo by KOTRA

This year, KOTRA participated for the fifth consecutive year, exhibiting products from 11 companies representing the K-architecture and building materials industry, including waterproofing materials, moldings, and water tanks. For the first time this year, KOTRA collaborated with L&T, India's largest construction company, to promote K-Industry on a building materials B2B e-commerce platform, focusing on attracting buyers. As a result, leading local Indian companies such as L&T Surfin, Kajaria Ceramics, and Somany visited the Korea Pavilion to consider purchasing products.

The Indian architecture and construction market accounts for about 10% of India's GDP and is expected to grow at an average annual rate of 6.87%, reaching 640 billion USD this year. Rapid urbanization, economic growth, and the Indian government's expansion of infrastructure investment are driving market growth. Careful monitoring of government policy trends such as the Sagarmala program (promoting 610 projects) and the Gati Shakti National Master Plan suggests significant opportunities for architecture and building materials companies to enter the market.

Bin Junhwa, Head of KOTRA's South Asia Regional Headquarters, stated, "Recently, the Indian architecture and construction market has continued to grow strongly, driven by urbanization, infrastructure development, and the adoption of new technologies," adding, "Following the spread of Hallyu, we will actively support our companies' entry into India so that various Korean products, including K-Industry, can be exported to India."