Spark Minda sees huge prospects for Business and Economic tie-ups with South Korea
New Delhi, 22nd March, 2018: In view of India’s growing ties and increased cultural, business bonding with South Korea, Global Automotive Component Manufacturer ‘SPARK MINDA, Ashok Minda Group’ (“Spark Minda”) led by Chairman & Group CEO, Mr. Ashok Minda supported the program organized by India-Republic of Korea friendship society (IRKF) to welcome the new Ambassador of South Korea to India – Mr. SHIN Bong-kil. The event organized at India International centre, New Delhi saw participation by senior bureaucrats, corporates, government officers and members of IRKFS. The dignitaries include; Mr. Skand Tayal, Ex Indian Ambassador to Korea; Mr. Shashank, Ex Foreign Secretary, Government of India; Mr. Ashok Minda, Group CEO & Mr. N.K Taneja, Group Chief Marketing Officer, Spark Minda, Ashok Minda Group and Mr. A P Gandhi, Director General of IRKFS.
WelcomingH.E SHIN Bong-kil, Ambassador of Korea to India, Mr. Ashok Minda,Chairman & Group CEO, Spark Minda, Ashok Minda Group said, “India’sgrowing ties and increased cultural, business bonding with South Korea hasimmensely benefitted and greatly impacted the lives of my countrymen. I believeand am of firm conviction that the two most promising economies of the world -India and South Korea will continue to further deepen collaboration, which willplay a significant role in promoting a mutually beneficial relationship in thenational and economic interest of all.”
The automotive industry in South Korea is thesixth-largest in the world measured by automobile unit production and thefifth-largest by automobile export volume. South Korea is today among the mostadvanced automobile-producing countries in the world. As a leading automotiveplayer, nationally and internationally, the South Korean automotive market is asignificant market for major global players like Spark Minda. As a ProgressiveGroup, Spark Minda sees big prospects that lies ahead in South Korea and is working as per its strategy infocus area of growth. It is continuously evaluating the new opportunitiesthrough organic & inorganic growth to compete from global suppliers besidesexpanding its footprints globally.
AddsMr. N.K Taneja, Group Chief Marketing Officer, Spark Minda, Ashok Minda Group, “SparkMinda, Ashok Minda Group is keen to align and serve South Korean car makers inIndia and also aggressively pursuing opportunities to alliance/ partner forIndia with South Korean partners. As per Government identified sectors forbilateral agreement, our Group is also working on latest technology productsfor clean technology which includes components for electric vehicle segment andother technology such as Connected Mobility Solutions, Telematics, ITS &IoT.”
Spark Mindastarted its journey in 1958. With glorious 60 years of operations, today theGroup is an international identity and a leading player in manufacturing ofautomotive components around the world. The US $539 Million Group is listed onNSE & BSE by its flagship company, Minda Corporation Limited and has aworkforce of over 16,000 that caters to the leading Passenger Vehicle,Commercial Vehicle, Motorcycle & Scooter, Off-road Vehicle & Tier 1Manufacturers in India with presence in 3 continents, 11 countries and 35 stateof the art manufacturing facilities. The Group recently inaugurated its one ofour most significant and advanced R&D centre in Pune – Spark MindaTechnical Centre, which is the Advanced Engineering Centre of Electronics &Mechatronics of the Group.