New Delhi, Feb 28 (KNN) Following the International Conference on Economic and Trade & Technology Cooperation among MSMEs of India & South Korea held yesterday, Business to Business (B2B) meetings were held today in New Delhi.

The meetings were organised by Federation of Indian Micro and Small & Medium Enterprises (FISME) and Korean SME Association in India (KOSMA) with the support of the Ministry of MSME.

“Producing in India with a local partner is an excellent strategy for South Korean SMEs to access the burgeoning Indian market and use it as a manufacturing base for global reach”, says Anil Bhardwaj, Secretary General, FISME.

“Unlike large corporations, SMEs can’t manage operations in multiple nations and therefore partnerships are a much better strategy for scaling up and garnering market share,” he added.

Over 40 Indian MSMEs and 13 South Korean MSMEs covering sectors such as PCB & electronics, medical appliances, Security systems, Fabrication Engg, Nirogen Fixing bacteria production, Cosmetics, RO Pumps, processed food among others participated in the exercise.

While the Indian market is large, domestic MSME producers lack advanced technologies. FISME and IFCI Ltd recently set-up ‘Centre of Excellence for Aspiring SMEs’ to facilitate MSMEs’ access to technology through foreign JVs and finance for expansion through an equity route.

For technology up gradation, the Centre is focusing on countries such as South Korea, Taiwan and Japan.

(KNN Bureau)