New Delhi [India], February 10 : A Memorandum of Understanding (MoU) on cooperation in logistics and infrastructure development between the Department for Promotion of Industry and Internal Trade (DPIIT) and the Korea Transport Institute (KoTI), Republic of Korea (RoK) was signed on Monday at the Sejong National Research Complex, South Korea.
The arrangement was signed by Youngchan Kim, President of KOTI, and Amit Kumar, Ambassador of India to the Republic of Korea.
The MoU will enhance cooperation in logistics and infrastructure development, leveraging KOTI's expertise to support India's ambitious infrastructure initiatives.
Joint working meetings will be held for taking the initiative forward.
Further, the MoU will establish a comprehensive mechanism for knowledge exchange and institutional cooperation between the Logistics Division, DPIIT and KOTI.
"This will help in the development of infrastructure and logistics master plans under the aegis of the prestigious program - PM GatiShakti National Master Plan," Ministry of Commerce and Industry said in a statement.
The key benefits of this collaboration include the establishment of a research-driven program that enhances expertise in logistics and infrastructure through knowledge exchange, training, and technical assistance. It will also foster cross-learning in areas such as master planning, technology adoption, and innovation.
Additionally, the partnership will highlight the achievements under the PM GatiShakti initiative and promote GIS data-based technology on a global stage.
"This will mark a significant step towards strengthening bilateral ties and fostering innovation in the field of logistics and infrastructure development," the ministry said.
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