Mumbai: National Small Industries Corporation (NSIC) has signed a Memorandum of Understanding (MoU) with the SME Corporation of Papua New Guinea to strengthen cooperation in the Micro, Small and Medium Enterprises (MSME) sector.
The agreement was formalized on April 23, 2026, in Mumbai in the presence of senior officials and representatives from both countries, marking a significant step in enhancing bilateral economic ties.
Focus on Innovation, Technology and Skill Development
The MoU aims to create structured collaboration between the two nations in key areas such as:
- Technology development and transfer
- Skill enhancement and training
- Innovation and startup ecosystems
- Incubation support
- Cross-border trade facilitation
The agreement was exchanged between Subhransu Sekhar Acharya and Petrus Ralda, reflecting a shared commitment to strengthening MSME ecosystems.
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Boost to Bilateral MSME Cooperation
National Small Industries Corporation officials stated that the partnership will help translate strategic intent into practical initiatives that benefit small businesses in both countries.
The collaboration is expected to:
- Enable knowledge sharing between institutions
- Build capacity among entrepreneurs
- Promote joint ventures and partnerships
- Enhance market access for MSMEs
Participation from Government and Diplomatic Officials
The signing ceremony was attended by key stakeholders, including:
- Rajneesh from the Ministry of MSME
- Michelle Lau, Second Secretary at the Papua New Guinea High Commission in India
- Senior officials from NSIC and SME Corporation of Papua New Guinea
Their presence underscored the importance of the agreement in strengthening international cooperation.
Strengthening Global MSME Ecosystem
The MoU aligns with India’s broader strategy of expanding global partnerships in the MSME sector. By collaborating with Papua New Guinea, India aims to support inclusive economic growth and create new opportunities for small businesses.
The initiative is expected to contribute to stronger trade relations and sustainable development through innovation-driven entrepreneurship. The partnership between NSIC India and Papua New Guinea’s SME Corporation marks a significant milestone in international MSME collaboration. With a focus on technology, skills, and trade, the agreement is set to open new avenues for growth and cooperation between the two countries.
About NSIC
National Small Industries Corporation is a Government of India enterprise under the Ministry of MSME that promotes and supports small-scale industries. It provides integrated services such as finance facilitation, technology support, marketing assistance, and skill development to help MSMEs grow and compete in domestic and global markets.
