DPIIT Signs Over 50 MoUs to Boost Startup-Led Manufacturing and Innovation in India

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Why in the news?

The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into more than 50 Memoranda of Understanding (MoUs) with leading corporates, including ITC Ltd., Flipkart Private Limited, Mercedes‑Benz Group AG, Hero MotoCorp Ltd., boAt Lifestyle Private Limited and Ather Energy Private Limited.

credits : latest laws

Focus on Manufacturing Incubators & Startup Access

At the heart of the initiative is the plan to set up manufacturing-focused incubators that offer shared infrastructure such as pilot production lines, prototyping labs, design centres and testing facilities.

This model is designed to reduce the heavy capital burden that many manufacturing startups face.

Incubators will also facilitate connections between startups and incumbent manufacturers, thereby enabling access to risk capital, early-stage production support, and a faster ramp-up of innovations.

This initiative forms part of India’s broader strategy to become a global hub for innovation-driven manufacturing and to strengthen the startup ecosystem under programmes like Startup India and Make in India.

[Credits for header image: G2learning hub 

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