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Koreans keen on tech-transfer to India

India-Korea Tech Centre for MSMEs


India-Korea Tech Centre for MSMEs

Singh and Hong inaugurating the Centre in New Delhi on 10 July 2018.


A number of Korean organizations have shown keen interest to initiate technology transfers to the Indian Micro, Small Medium Enterprises (MSMEs) and the Korean Small and Medium Enterprises (SMEs), said the Minister of State for MSMEs, Giriraj Singh.

The Korean organizations will use the newly established India-Korea Technology Centre to provide MSMEs and SMEs reliable partners for forming business alliances.

The Centre will also create a platform for micro, small and medium enterprises (MSMEs) of India and South Korea where they can be assisted to identify and exchange latest technologies, share management expertise, product development and technology applications for product development.

Singh elaborated that the Centre will also work towards building reliable alliances in Space, Solar Energy, Nano technologies and some other upcoming technologies.

The Centre was inaugurated by Singh and the South Korean Minister of Small and Medium Enterprises (SMEs) and Start-ups, Hong Jong- hak in New Delhi on 10 July 2018.

Minister Hong highlighted his country’s strong industrial base with well-developed SME sector, especially in advanced manufacturing technologies such as machinery & equipment, electronics, electrical machinery & equipment and robotics. He said that SMEs of both the countries can learn from each other to enhance their comparative advantages and be competitive in the world.

MSME secretary Dr. Arun Kumar Panda pointed out the competitive advantage Indian MSMEs like auto components, drugs and pharmaceuticals, IT bio-technology, agro and food processing.

The India-Korea Technology Exchange Centre will work towards identifying Indian technologies which can be exported to South Korea.

It will also find suitable Korean partners for them, initiating various cooperative MSME projects complimenting each other’s strengths in MSME sector, creating Technology Data Bank from each side to encourage technology transfers, production of high quality products in India and encouraging Joint Ventures and business matching between Indian and Korean SMEs.

On this occasion, a memorandum of understanding was signed between the Korean Small Business Corporation (SBC) and the National Small Industries Corporation Ltd (NSIC) for cooperation in the field of MSME Sector.

The SBC will mobilise the South Korean MSMEs for technical and business alliances with their counterparts in India and organise partner matching events in Korea for Indian delegations.

The Centre is located in NSIC premises in New Delhi.

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