NEW DELHI India and South Korea today agreed to deepen cooperation among their small and medium enterprises through technology transfer, joint ventures, business alliances and facilitation of mutual market access.
Both countries also emphasised on providing support to each other’s startups in accordance with their schemes and programmes.
The Korean side proposed to initiate cooperation for startup companies in India and the Republic of Korea. It proposed to hold a contest to identify startups would be interested to establish themselves in each other’s country.
The decisions were taken at the first Korea-India SME bilateral working group meeting, wherein the Korean delegation led by SME Minister of Small and Medium Business Administration Young-sup Joo met the Indian delegation, led by Union MSME Minister Kalraj Mishra.
The representatives of both the sides briefed about their respective policies for promotion and development of SMEs to have a better understanding of each others policies and identify areas of cooperation. (AGENCIES)
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