New Delhi,  March 24 , 2015: The Small and Medium Enterprise  Chapter of  India's IT industry body, the Manufacturer's Association of Information Technology (MAIT)   has signed a Memorandum of Understanding (MoU) with the Korea -based Busan IT Industry Promotion Agency (BIPA) last week.
Established in the year 2002, Busan IT Promotion Agency is the premier agency for nurturing the IT / CT & Culture industry in Busan, Korea.
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  in Bangalore, by Rahul Gupta, Chairman, SME Chapter of MAIT and by Seo Tae Geon, CEO of Busan IT Industry Promotion Agency in the presence of SMEs from MAIT and Korea.
The event was attended by 9 Korean SMEs covering the entire spectrum of IT industry from marine electronics to video translation & global promotion on internet services. This MOU is expected  to  impart momentum to encourage local manufacturing of products in India and set agendas for regular engagement by expanding the scope of doing business.
Says Rahul Gupta, Chairman, SME Chapter of MAIT:"‘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’.