Invest KOREA

KOTRA to Operate the Korean Pavilion at INBP 2023 in India on Oct 10-11
Cooperation between the two countries expected on Korea's SMR (Small Modular Reactor) and equipment

KOTRA (President Yu Jeoung-yeol) will operate the Korean Pavilion at the India Nuclear Business Platform (INBP) in Mumbai, India on October 10-11 to expand exports of nuclear power plant equipment.

INBP is India's only nuclear power plant-related event. The INBP, hosted by the Nuclear Power Corporation of India (NPCIL), will be attended by more than 100 local nuclear power plant operators and related companies. KOTRA, in cooperation with the Korea Nuclear Association for International Cooperation (KNA), wil support ▲ Operation of Korean Pavilion, ▲ 1:1 Business Partnering, and ▲ Main Conference presentations to strengthen the ecosystem of nuclear power plant and support exports.

Ten nuclear power plant equipment companies involved in promising export items, such as ▲ turbine generators, ▲ control/measurement equipment, and ▲ waste storage containers, will participate. To improve the performance of participating companies, KOTRA pre-arranged 1:1 business partnering through coordination with Indian nuclear power plant operators and major intermediary distributors.

India plans to gradually reduce the share of fossil fuel-generated power from the current 53% and establish 13 nuclear power plants additionally by 2031. Since Indian Prime Minister Narendra Modi declared "carbon neutrality in 2070" at the UN Climate Change Convention in 2021, the need for the development of nuclear power plants has grown. India, the world's most populous nation and a "giant economy" with the world's fifth-largest GDP, is considered a untrodden territory for Korea's nuclear power plants with an explosive demand on the horizon.

Bin Joon-hwa, Managing Director of KOTRA's South Asia Headquarter, said, "To normalize the ecosystem of nuclear power plants, we will endeavor to discover overseas demand for nuclear power plant equipment suitable for SMEs and secure opportunities for overseas networks through diversification of the nuclear power plant market."



Source: KOTRA (Oct 10, 2023)