DPIIT and ITC Join Forces to Boost Startup Ecosystem in India

The DPIIT and ITC Limited have formed a strategic partnership to drive startup growth, leveraging ITC's market network and expertise. The collaboration supports India's flagship programs and aims to integrate startup solutions in digital platforms, renewable energy, and more, fostering innovation and sustainable growth.

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has forged a strategic alliance with ITC Limited, one of India's foremost diversified conglomerates. This collaboration is driven by a shared ambition to accelerate the growth of startups and technological advancements, while also creating viable market opportunities across the nation.

The Memorandum of Understanding (MoU) lays the groundwork for a dynamic partnership where ITC's extensive experience and expansive market reach will complement DPIIT's initiatives to support startups nationwide. ITC plans to utilize startup solutions in key domains such as digital platforms for Manufacturing Execution Systems (MES), integrating renewable energy opportunities at manufacturing sites, and energy storage systems.

Emphasizing the pro-startup agenda, Joint Secretary of DPIIT, Sanjiv, noted, "This initiative aligns closely with the Government of India's flagship programs, including Startup India, Make in India, and AatmaNirbhar Bharat. It is also a critical step in contributing to Vision 2047, aiming for inclusive and sustainable growth driven by innovation-led entrepreneurship."

Dr. Sumeet Kumar Jarangal, Director of Startup India, highlighted the collaboration as a steadfast commitment to ensuring seamless market access for startups. He stressed the potential for startups to collaborate on feasible solutions tailored to business needs through ITC's broad network and expertise. Anil Rajput, President of ITC Corporate Affairs, remarked, "The MoU will create substantial value for both startups and ITC, focusing on digital transformation for operational excellence and enhancing ITC's sustainability in renewable energy sectors."

(With inputs from agencies.)