DPIIT signs MoU with a private firm to promote startup ecosystem in manufacturing sector
Published: Jan 25, 2025
By TIOLCorplaws News Service
NEW DELHI, JAN 25, 2025: DEPARTMENT for Promotion of Industry and Internal Trade (DPIIT) has signed a MoU with the Bhaane Group, a subsidiary of Shahi Exports Pvt Ltd, the largest manufacturer of apparel. This collaboration will launch incubation programs for startups specialising in manufacturing, along with other production areas and foster relationships with international startup ecosystems. This is part of government's thrust on promoting new manufacturing entrepreneurs in the country.
Through its extensive experience, the private firm will support upcoming startups by providing access to market insights. The firm will facilitate them to create a holistic understanding of the workings of foreign markets, along with guidance on operational knowledge throughout the startup lifecycle.
Sanjiv, Joint Secretary, DPIIT said, "This collaboration serves a greater good - to nurture a thriving entrepreneurial spirit and strengthen India's manufacturing landscape. By facilitating connections between startups and established players like Bhaane Group, we foster a mutually beneficial environment where innovation flourishes and Indian businesses achieve global success."
Anand Ahuja, CEO and Co-Founder of Bhaane Group said, "Global brands are eyeing investing in Indian startups, as it is one of the leading players in the South Asian market. DPIIT's mission with Start Up India aligns with our outlook to foster innovation and global competitiveness among Indian startups."
