The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered strategically with Moglix, Asia’s leading B2B e-commerce platform, to start a transformative manufacturing incubation initiative. This initiative is designed to accelerate innovation within India’s manufacturing sector and support the nation’s vision of a 'Viksit Bharat' (Developed India).
The Memorandum of Understanding (MoU) will focus on nurturing over 25 growth-stage startups in key industries including chemicals, automotive, infrastructure, and green energy. These startups will benefit from a 12-month program that offers access to an extensive network of mentors, supply chain infrastructure, and financial support through Moglix’s non-banking financial company (NBFC), Credlix.
DPIIT’s involvement in the program, leveraging the Startup India ecosystem, will enhance its reach across the nation, providing vital resources and facilitating greater adoption of the initiative.
Sanjiv Singh, Joint Secretary of DPIIT, expressed, "Startups are the backbone of India’s economic and technological progress. This MoU with Moglix highlights our commitment to fostering innovation, nurturing entrepreneurship, and building a resilient manufacturing ecosystem that aligns with India’s self-reliance vision."
Rahul Garg, Founder and CEO of Moglix, emphasized the significance of the partnership, saying, “This collaboration marks a transformative step for India’s manufacturing sector. By combining Moglix’s technological expertise with DPIIT’s strategic guidance, we are creating a sustainable, innovation-driven manufacturing economy that will empower entrepreneurs and position India as a global manufacturing hub."
Aligned with the government’s Atmanirbhar Bharat (Self-reliant India) initiative, the program is designed to provide startups with valuable collaborations, investment opportunities, and resources to scale up and create globally competitive products. The initiative also aims to boost India’s manufacturing sector’s contribution to the GDP and facilitate the expansion of Indian startups into international markets.
This partnership underscores Moglix’s commitment to strengthening supply chains and addressing the challenges faced by growth-stage manufacturing startups. It supports India’s national objectives of expanding the manufacturing sector’s GDP contribution and positioning the country as a global industrial leader.
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