NSIC opens a Korea-India technology exchange centre in Delhi

NSIC opens a Korea-India technology exchange centre in Delhi
Photo Credit: 123RF.com
26 Dec, 2019

Hyderabad based National Small Industries Corporation (NSIC), which falls under Ministry of Micro, Small and Medium Enterprises of India, has set up an India- Korea exchange technology centre (IKTEC) at NSIC’s Technical Service Centre at Okhla, Delhi. 

The technology exchange facility was set up in association with the Small and Medium Business Corporation (SBC) of South Korea.  NSIC also said in a statement that it has signed a Memorandum of Understanding (MoU) with SBC to improve the cooperation between Micro Small and Medium Enterprises of both the countries.

Under the IKTEC platform, MSMEs from both India and Korea will be helped in technology exchange, machinery, product development and technology applications for product development. 

“The industries in focus are auto components, solar energy, light engineering, food processing, electrical and electronics, mechatronics, textiles etc. However, enterprises from other fields are also invited,'' NSIC said.

The centre will also conduct technology demand analysis of the two nations and identify promising sectors for technology exchange and conduct a diagnosis of problems as well as the enterprise readiness to deploy advanced trends. It will also explore the commercial feasibility of the deployments as well as encourage and initiate different cooperative MSME projects that complement each other.

A website has also been launched to assist MSMEs from both sides. Companies will be able to upload their requirements and offers from both countries through the platform. 

NSIC had inked a deal with Saudi Arabia’s Aramco Asia earlier this month to develop the oil and gas sector in India.