With an aim to promote new manufacturing entrepreneurs in India, the Department for Promotion of Industry and Internal Trade (DPIIT) has inked a MoU with the Bhaane Group, a subsidiary of apparel manufacturer ‘Shahi Exports Pvt Ltd’ to support start-ups in the production space.
The collaboration aims at incubation programmes for start-ups specialising in manufacturing, along with other production areas to foster relationships with international start-up ecosystem, the commerce ministry said in an official statement. Post this partnership; the private firm will support upcoming ventures by providing access to market insights and facilitating a holistic understanding of the workings of foreign markets.
“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,” said Sanjiv Singh, Joint Secretary, DPIIT said.
Bhaane Group CEO Anand Ahuja said Indian start-up ecosystem is one of the leading players in the South Asian market, hence, global brands are eyeing investment in the country. The company's expansive portfolio is a testament to localising global experiences, adhering to the 'glocal' approach towards building international ties.
DPIIT's Previous Partnerships
This is not the first time that DPIIT collaborated with corporates to support Indian start-ups. A few days ago, the department along with the commerce ministry unveiled a strategic partnership with the ITC Limited to speed up start-up growth and technological advancement in the ecosystem.
Under this partnership, ITC will deploy start-up solutions in key areas such as digital platforms for Manufacturing Execution Systems (MES), integrating renewable energy opportunities for manufacturing locations, and energy storage systems.
The department also joined hands with US retail giant Walmart to provide strategic support, mentorship, and training to manufacturing start-ups. It has also signed an MoU with ‘Apna’, a professional networking platform, to provide access to Indian start-ups for hiring top-tier talent.
Currently, the commerce ministry is urging large corporates and private companies to foster closer ties with Indian startups, particularly those focused on deep technology and for manufacturing incubators.
