New Delhi, Feb 27 (KNN) Under the patronage of the Ministry of Micro, Small & Medium Enterprises (MSME), an International Conference on Economic and Trade & Technology Cooperation among MSMEs of India & South Korea was held in New Delhi today.

Addressing the MSME delegates, Ambassador of the Republic of Korea to India, Chang Jae-bok, said that time is ripe for MSME-to-MSME collaborations between South Korea and India.

“India and Korea are aligned in promoting MSMEs on the global stage. By harnessing India's rich resources and Korea's technological prowess, this collaboration holds immense promise to bolster bilateral relations,” remarked Ambassador Chang.

The conference was organised by Federation of Indian Micro and Small & Medium Enterprises (FISME), in collaboration with the Korean Small & Medium Enterprises Association in India (KOSMA), marking a pivotal moment in fostering bilateral economic ties.

Speaking at the occasion, Mercy Epao, Joint Secretary (SME) at the Ministry of MSME, echoed sentiments of natural partnership between Korea and India, citing ample opportunities for Korean MSMEs in India across diverse sectors such as automobiles, food, skincare, and entertainment.

Epao underscored India's initiatives to bolster MSMEs, including formalisation through the Udyam portal, credit linkage schemes, technology infusion, and upskilling initiatives.

During the conference, Manoj Mittal, MD & CEO of IFCI Limited, spotlighted the recent launch of the ‘Centre of Excellence for Aspiring SMEs’, envisioned as a hub for facilitating partnerships between Indian and Korean SMEs.

He stressed the importance of strategic alignment and synergy in economic cooperation between the two nations to foster a mutually enriching environment for MSMEs.

In his note, Prashant Patel, President of FISME, emphasised the untapped potential in knowledge exchange and information transfer between Indian and Korean MSMEs, envisioning a future marked by trust, cooperation, and mutual understanding.

Distinguished guests including Bin Joonhwa, Managing Director South Asia Head office, KOTRA; Sung Huem Park, President of KOSMA; Richard Sohn, MD & CEO of SK International; Param Tripathi, Advocate at Birdtree Management; Dr. Abraham Lee, MD & CEO of Atomy India and Sanjeev K. Ahuja, Founder & Editor-in-Chief of Asian Community News Network graced the occasion, underscoring the significance of the collaborative endeavor.

The conference, which witnessed insightful discussions and exchange of ideas, will culminate in a Business-to-Business (B2B) session the following day aimed at expanding cooperation and revitalising economic exchanges between Indian and Korean MSMEs.

(KNN Bureau)