(MENAFN- KNN India)
New Delhi, Nov 21 (KNN) The Federation of Indian Micro and Small & Medium Enterprises (FISME) and The Herald media Group are set to sign a Memorandum of Understanding (MoU) aimed at fostering strategic collaborations between Indian and Korean small and medium enterprises.
The landmark agreement, to be signed on November 22nd, 2024, represents a pivotal effort to bridge the economic corridors between India and South Korea by creating robust platforms for business interaction, information exchange, and mutual growth.
FISME President Sandeep Kishore Jain and The Herald Media Group CEO Choi Jin-young will formalise the partnership, signalling a commitment to enhancing cross-border business opportunities.
Under the terms of the MoU, both organisations will work collaboratively to facilitate strategic partnerships, joint ventures, and business connections between Indian and Korean companies.
The initiative focuses on providing comprehensive support to small and medium enterprises, including matchmaking services, legal guidance, and networking opportunities across both markets.
Key objectives of the partnership include establishing a comprehensive platform for connecting businesses, facilitating information exchange, and supporting SMEs in navigating international trade landscapes.
FISME will offer critical services such as hosting business delegations, organising B2B meetings, and assisting Korean companies in understanding India's regulatory environment.
Correspondingly, The Herald Group will leverage its extensive media network to share information about trade exhibitions, facilitate strategic partnerships, and create channels for Indian SMEs to engage with South Korean government and public institutions.
The memorandum emphasises mutual cooperation, with both parties agreeing to maintain transparent communication, exchange relevant content, and coordinate delegation visits to maximise potential business opportunities.
Notably, the agreement is structured as a non-binding understanding, allowing flexibility for future collaborative developments.
This strategic alliance represents a significant step in strengthening economic ties between India and South Korea, providing a structured framework for small and medium enterprises to explore new market possibilities and foster international business growth.
(KNN Bureau)
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