SME Chapter of MAIT has signed a memorandum of understanding (MoU) with Busan IT Industry Promotion Agency (BIIPA) to bring together Indian and Korean SMEs.
The MoU signed last week in Bengaluru is aimed to promote local manufacturing by exchange of information on technology know-how, software development, talent exchange with a focus on industrial development in both the countries.
Rahul Gupta, chairman, SME Chapter of MAIT and Seo Tae Geon, CEO of Busan IT Industry Promotion Agency signed the MoU.
9 Korean SMEs covering the IT industry from marine electronics to video translation and promotion on internet services attended the event.
“This is an opportunity for Indian SME’s to do local manufacturing utilizing the Korean technology and collaborating on various aspects of manufacturing especially development of products in India,” said Rahul Gupta, chairman, SME Chapter of MAIT.
Anwar Shirpurwala, executive director, MAIT said that MoU will improve the flow of information between SMEs of India and Korea. Business-to-business contacts would improve by trade fairs, exhibitions, seminars and other workshops and exchange of information on technology.