DPIIT Partners ITC To Boost Startups In Manufacturing Space

DPIIT Partners ITC To Boost Startups In Manufacturing Space

SUMMARY

Department for Promotion of Industry and Internal Trade (DPIIT), along with the Ministry of Commerce & Industry has announced a strategic partnership with ITC Limited

ITC will deploy startup solutions in areas like digital platforms for Manufacturing Execution Systems (MES)

This comes as DPIIT recently ramped up its partnerships and efforts to accelerate the startup ecosystem in India

The Department for Promotion of Industry and Internal Trade (DPIIT), along with the Ministry of Commerce & Industry has announced a strategic partnership with ITC Limited to accelerate startup growth and technological advancement in the ecosystem. 

Under the partnership, ITC will deploy startup solutions in areas like digital platforms for Manufacturing Execution Systems (MES), integrating renewable energy opportunities for manufacturing locations, among other things. 

“The MoU will create value for both the startups and ITC. It will focus on digital for increased future-ready and operational excellence in manufacturing…” said Anil Rajput, President, ITC Corporate Affairs in a statement. 

This comes as DPIIT recently ramped up its partnerships and efforts to accelerate the startup ecosystem in India. 

Earlier this month, the department partnered with US retail major Walmart to support micro, small, and medium enterprises (MSMEs) from Tier II and III cities.

It also inked a pack with venture debt firm Stride Ventures to expand their global footprint, a day after partnering with the startup body Startup Policy Forum (SPF). 

While in December 2024, it signed a MoU with SaaS major Tally Solutions and HDFC Bank to mentor manufacturing startups.

Meanwhile, earlier this month, it announced that funding for Indian startups has grown exponentially to $155 Bn in 2024 from $8 Bn in 2016. 

This came as the number of startups in the country reportedly surged to over 1.58 Lakh from just 400 in 2016.

Also, DPIIT is eying to establish a startup in every district of the country by the end of 2025. 

It also recently announced that from just 120 districts in 2016, they have expanded to 750 districts today. This comes just days after DPIIT announced that The Indian startup ecosystem had created more than 16 Lakh jobs across the country as of December 25, 2024.

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