The India-Korea Technology Exchange Centre got inaugurated by Minister of State (I/C) MSME Giriraj Singh and Minister of SMEs and Start-ups of South Korea, Hong Jong- hak, at the National Small Industries Corporation premises in New Delhi.
The main purpose for this is to create a platform for MSMEs of India and South Korea in which both can assist to identify and exchange the latest technologies, do product development, share management expertise and so technology application for product development. Using this the centre will work on identifying Indian technologies that can be used to export to Korea in order to find suitable Korean partners. This process will help in initiating various cooperative MSME projects that will be able to complement each other and help in strength in MSME sector.
Using this as a base, it will help in creating Technology Data Bank from both the sides that will help in encouraging technology transfers, in context to produce high-quality products in India. It will also help in encouraging Joint Ventures and business matching amongst South Korea and Indian SMEs.
The secretary of MSME, Dr A.K Panda went on to and said that in today's competitive environment it is important to share the comparative advantage of MSME in different countries as Indian MSMEs are extremely competitive in areas like biotechnology, drugs and pharmaceuticals, auto components, information technology, agro and food processing.
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