Client: Department of International Trade Promotion, Ministry of Commerce
Challenge: The Department of International Trade Promotion commissioned our company to organize a business matching activity between Thai entrepreneurs and a trade delegation of business representatives from South India, within the context of rapidly growing trade relations between Thailand and India. The focus was on penetrating the South Indian market, a region with high economic potential and a population of over 250 million. The project faced challenges in selecting and matching businesses with compatible potential, as well as overcoming cultural and communication barriers between entrepreneurs from the two countries.
Our Company’s Approach: Our company developed a comprehensive and effective operational approach:
- Market Analysis and Industry Selection: Studied and analyzed South Indian market trends to identify high-potential industries for business collaboration, focusing on food and beverage, automotive parts, cosmetics, lifestyle products, and digital technology
- Entrepreneur Selection and Preparation: Selected Thai entrepreneurs with export potential and readiness for the Indian market, and provided training on Indian business culture and trade regulations
- Coordination with Indian Business Delegation: Collaborated with the Thai Trade Office in Chennai to select and invite South Indian business representatives with potential to import Thai products
- Efficient Business Matching Event Design: Designed a targeted business matching format utilizing big data analytics to match buyers and sellers with compatible needs
- Communication and Interpretation Support: Prepared specialized interpreters to help reduce language barriers during business negotiations
Results: The business matching activity achieved significant success:
- 45 trade representatives from South India from five key South Indian states: Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, and Telangana
- 120 Thai entrepreneurs from targeted industries participated in the activity
- 283 business negotiations between Thai entrepreneurs and Indian businesses
- Immediate purchase orders worth 68.5 million baht and projected orders within one year worth 457 million baht
- Participant satisfaction at very good to excellent levels, reaching 92%
The Business Matching Activity Under South Indian Trade Delegation Visit to Thailand 2022 helped build strong trade relationships between Thai and South Indian entrepreneurs, expanded market opportunities for Thai products in India, and supported the government’s goal of increasing trade value between the two countries. Additionally, it helped build knowledge and understanding about the South Indian market among Thai entrepreneurs, which is an essential foundation for long-term business success.
