New Delhi, July 11: The India Korea Technology Exchange Centre was inaugurated at National Small Industries Corporation (NSIC) on July 10 by Giriraj Singh, Minister of State (Independent Charge), Ministry of MSME and Hong Jong Haak, Minister of SMEs and Start-ups of Republic of Korea, creating a new era of association with India and Korea in the field of growth of MSMEs both the countries.

Inaugurating the India-Korea Technology Exchange Centre, Singh stated that the purpose of the establishment is to create a platform for Micro, Small and Medium Enterprises of India and Korea where they can be assisted to identify and exchange latest technologies, share management expertise, product development, technology applications for productive development.

He further said the India-Korea Technology Exchange Centre will work towards building reliable alliances not only in above areas but also in space, solar energy, nano technologies and some other up-coming technologies.

On the other hand, Hong Jong Haak informed that Korea has strong industrial base with considerable well-developed SME sector especially in advanced manufacturing technologies such as machinery and equipment, electronics, electrical machinery and equipment robotics. He also said that the India-Korea Technology Exchange Centre will work towards building reliable alliances for enabling technology transfers between India and Korea.

Dr. A.K Panda, Secretary MSME, informed that in today's competitive environment there is need to share the comparative advantage of MSME of different countries. The Indian MSMEs are very competitive in sectors like auto components, drugs and pharmaceuticals, information technology, bio technology, agro and food processing.

The Indo-Korean Technology Exchange Centre will help MSMEs of the both the countries to gain market access and avail business opportunities amongst them.

Speaking on the occasion Ravindra Nath, CMD, NSIC stated that, NSIC and SBC have organised a technology exchange and start-ups conference where 18 SMEs from Korea in the field of IOT (Internet of Things), energy saving devices healthcare beauty care and Auto parts/light engineering sectors led by the Minister of SMEs and Starts-ups of Korea participated. NSIC also organised one to one meetings for each of them with Indian Counterpart MSMEs.

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