Ministry of Micro, Small and Medium Enterprises (MSME), India signed an MoU with the Ministry of SMEs and Startups, South Korea to strengthen bilateral cooperation in the MSME sector. The MoU was signed during the visit of H.E. Lee Jae Myung, President of South Korea, to India.
Highlights of MoU
- The MoU establishes a structured framework for collaboration between the two Ministries, enabling sustained dialogue on MSME-related issues and facilitating exploration of mutually beneficial opportunities.
- Objective: To promote deeper understanding of each other’s MSME ecosystems and enhance stakeholder engagement.
- Key areas of cooperation include exchange of information and experts, sharing of best practices, business matchmaking, and technical & economic collaboration, along with joint initiatives to strengthen linkages between MSMEs of both countries.
Significance
The partnership marks a significant step in deepening India–Korea economic cooperation, underscoring the shared commitment to empowering MSMEs as key drivers of inclusive growth, innovation, and employment generation.