India, Korea ink MoU to boost MSME ties

New Delhi: India and the Republic of Korea signed a memorandum of understanding (MoU) to strengthen cooperation in the micro, small and medium enterprises (MSME) sector, the MSME ministry said on Tuesday. The agreement was finalised on Monday during the visit of a delegation led by Lee Jae Myung.

The MoU creates a structured framework for collaboration between the two countries, enabling continuous dialogue on key MSME issues and encouraging exploration of mutually beneficial opportunities, the ministry said in a statement.

"It seeks to promote a deeper understanding of each other's MSME ecosystems and enhance engagement between stakeholders," it added.

The agreement aims to boost trade and investment through exchange of information and experts, sharing of best practices, business matchmaking, and support for technical and economic cooperation. It also backs joint initiatives to strengthen linkages between MSMEs in both countries.

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