The Business Bytes
THEBUSINESSBYTES.COM
NEW DELHI, JANUARY 15, 2025
In a landmark move to accelerate India’s burgeoning startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has entered into a strategic partnership with ITC Limited, one of the nation’s premier diversified conglomerates.
This partnership is poised to catalyze the growth of startups and drive technological advancements, with an emphasis on creating robust market opportunities across the country. The Memorandum of Understanding (MoU) between DPIIT and ITC sets the foundation for a collaborative effort where ITC’s extensive market reach and industry expertise will enhance DPIIT’s ongoing initiatives to support startups.
The alliance focuses on deploying innovative startup solutions in critical areas such as digital platforms for Manufacturing Execution Systems (MES), renewable energy integration for manufacturing sites, and energy storage systems. These efforts align seamlessly with the Government of India’s flagship programs, including Startup India, Make in India, and Aatma Nirbhar Bharat, all aimed at fostering a self-reliant and innovation-driven economy.
Joint Secretary of DPIIT, Sanjiv, highlighted the strategic significance of this partnership, stating, “This collaboration is a pivotal step towards achieving Vision 2047, which emphasizes inclusive and sustainable growth through innovation-led entrepreneurship. We are committed to creating a scalable, supportive environment for startups to thrive.”
Echoing this sentiment, Anil Rajput, President of ITC Corporate Affairs, said, “The MoU will generate mutual value by driving digital transformation and operational excellence in manufacturing. Additionally, it underscores ITC’s commitment to expanding its sustainable practices through renewable energy initiatives.”
This strategic partnership not only signals a promising future for startups in India but also reinforces the nation’s position as a global hub for innovation and entrepreneurship.
