DPIIT Inks Pact With Walmart To Support Manufacturing Startups

SUMMARY

In a major boost to India’s manufacturing startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has signed a memorandum of understanding (MoU) with US retail giant Walmart

The partnership is aimed at supporting and empowering startups and MSMEs from Tier II and III cities, said Sanjiv Singh, joint secretary at DPIIT

As part of the initiative, the DPIIT in collaboration with Walmart will provide strategic support, mentorship and training to manufacturing startups

The partnership is aimed at supporting and empowering startups, along with micro, small, and medium enterprises (MSMEs) from Tier II and III cities, said Sanjiv Singh, joint secretary at DPIIT, ministry of commerce & industry, in a LinkedIn post today (January 8).

As part of the initiative, the DPIIT in collaboration with Walmart will provide strategic support, mentorship and training to manufacturing startups, enabling them to compete at the national as well as international level, he added.

Singh further said that the move reiterates the Centre’s commitment to creating a thriving entrepreneurial ecosystem in the country by facilitating access to global supply chains, advanced mentorship and innovative resources.

It is pertinent to note that DPIIT has been signing a slew of partnerships lately with an eye on fostering the homegrown startup ecosystem. Last week, the department partnered with venture debt firm Stride Ventures to support the growth of Indian startups and expand their global footprint.

The collaboration is aimed at providing financial backing, mentorship, and market access to startups, with a focus on sectors like manufacturing, consumer goods, B2B, and cleantech.

Prior to that, DPIIT also joined hands with the Startup Policy Forum to amplify innovation, drive technology adoption, boost manufacturing capabilities in India, and facilitate relationships with international stakeholders and ecosystem enablers.

In recent months, the DPIIT has partnered with several companies, including the likes of HCLSoftware, Flipkart, bOAt, and Tally as part of the government’s efforts to nurture the homegrown new-age tech ecosystem.

As of December 25, the number of DPIIT-recognised startups exceeded 1.5 Lakhs, which have cumulatively generated more than 16 Lakh jobs across the country so far.