India and the Republic of Korea have signed a Memorandum of Understanding (MoU) to strengthen cooperation in the micro, small and medium enterprises (MSME) sector during the visit of President Lee Jae Myung to India.
The agreement, inked on April 20 between India’s Ministry of Micro, Small and Medium Enterprises and South Korea’s Ministry of SMEs and Startups, establishes a structured framework to boost collaboration, dialogue and partnerships between the two countries in the MSME domain.
The MoU focuses on promoting trade and investment through the exchange of information, sharing of best practices, and facilitating business matchmaking and technical cooperation. It also aims to strengthen linkages between MSMEs of both nations, enabling greater engagement among stakeholders.
The partnership is expected to enhance mutual understanding of each other’s MSME ecosystems and reinforce India–Korea economic ties, with a shared emphasis on innovation, employment generation and inclusive growth.
