FMGE is a licensing examination conducted for foreign medical graduates who wish to practice medicine in India. It is a qualifying exam with a fixed passing score of 150 out of 300. NEET PG, on the other hand, is a competitive entrance examination conducted for admission to postgraduate medical courses (MD, MS, PG Diploma) in India. NEET PG ranks candidates based on their performance, while FMGE simply determines whether a candidate meets the minimum competency standard.