The National Small Industries Corporation Ltd. (NSIC) and SME Corporation of Papua New Guinea (PNG) formalized a Memorandum of Understanding (MoU) on April 23, 2026, in Mumbai to strengthen cooperation in the MSME sector. The MoU was signed and exchanged by Dr. Subhransu Sekhar Acharya, CMD, NSIC and Mr. Petrus Ralda, Managing Director of SME Corporation, PNG in the presence of Dr. Rajneesh, AS & DC-MSME, Ministry of MSME, Government of India. The MoU marks an important milestone towards deepening bilateral ties, more particularly in the MSME domain, by translating strategic intent into structured initiatives focused on technology, skilling, incubation, innovation and cross-border trade. The MoU was signed in the presence of Ms. Michelle Lau, Second Secretary, PNG High Commission New Delhi along with senior officials from Ministry of MSME, NSIC and SME Corporation, PNG.