Today, India and Korea came to an agreement for intensifying the state of startups, small, and medium business through joint ventures, technology sharing, business alliances, and easy access of mutual market.
Their main concern is to support the startup businesses in their countries according to their legal schemes and agenda.
Decision Prompted In A Meeting Of Indian Delegation
All these decisions have been evaluated formerly at Korea-India SME group who are working for both side. Meeting of Indian delegation represented by Union MSME Minister Kalraj Mishra and Korean delegation represented by Young-sup has been arranged here.
Both representative convey the brief discussion of terms and policies to drive and enhancement of SMEs and make each other aware of the policies for specific regions of participation.
Primary Concerns Of Proposal
Korea put forth the proposal for collaboration of business, mainly startups, in India as well as Republic Korea. This proposal includes contests that would prompt the number of startups that are interested in establishing in each other’s country.
Main Idea Is To Support R&D Projects Of Both Country
Both of them agreed upon sharing and implementation of technology and compatible business through a technology trade center. Moreover, they agreed to outlining policies that support and intensify R&D projects.
They consented to shape a joint team to set up the activity anticipating this proposition examine the course of events before the end of 2017. The two pioneers concurred for SME collaboration through NSIC of India and Small Business Corporation that belongs to Korean side.
Result Of Meeting Will be Revealed In Both Countries
The Biannual bilateral group meetings navigated towards a specific level based on views of discussion and development of agenda. The result of these meetings would be revealed at Ministerial level about two times in a year alternatively in India and in South Korea.