SME Chapter of MAIT has signed a Memorandum of Understanding (MoU) with Busan IT Industry Promotion Agency (BIIPA) recently in Bengaluru.

The MOU aims to bring together Indian and Korean SMEs to promote local manufacturing by regular exchange of information on technology know-how, software development, talent exchange with a strong focus on Industrial development in both the countries.

The MoU was signed by Mr. Rahul Gupta, Chairman, SME Chapter of MAIT and by Mr Seo Tae Geon, CEO of Busan IT Industry Promotion Agency in the presence of SMEs from MAIT and Korea.

The event was attended by nine Korean SMEs covering the entire spectrum of IT industry from marine electronics to video translation & global promotion on internet services. This MOU has imparted further forward momentum to encourage local manufacturing of products in India and set agendas for regular engagement by expanding the scope of doing business on mutually agreed terms.

Commenting on the MOU, Mr Rahul Gupta, Chairman, SME Chapter of MAIT said, ‘This is a great opportunity for Indian SME's to do local manufacturing utilizing the Korean technology and collaborating on various aspects of manufacturing especially development of products in India'.

Many prominent IT & Electronics SMEs representing IT & Electronics Industry in India were engaged in technical & trade related discussions with the Korean SMEs to benefit from the new partnership.

Anwar Shirpurwala, Executive Director, MAIT said, "The MOU will improve the flow of information between SMEs of India and Korea, which is vital for the business communities of the two countries. Business-to-business contacts would improve by trade fairs, exhibitions, seminars and other workshops and continuous exchange of information on technology know-how and expertise to complement each other's businesses and thereby to Make In India Programme."
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