Department for Promotion of Industry and Internal Trade (DPIIT) under the Government of India (GOI) has signed a Memorandum of Understanding (MoU) with ITC Limited, one of India’s leading diversified conglomerates,  aiming for a strategic partnership. This collaboration aims to create viable business opportunities for startups across the length and breadth of the nation. 

This arrangement between the two aims to bolster a dynamic partnership in which ITC’s huge network and extensive market experience would complement DPIIT’s innovations and initiatives to bolster the startup ecosystem in India. 

Objective 

Through this partnership, ITC aims to implement startup solutions in critical areas, including digital platforms for Manufacturing Execution Systems (MES), integration of renewable energy opportunities at manufacturing sites, energy storage systems, and more.

AatmaNirbhar Bharat

Emphasizing this pro-startup initiative, Joint Secretary of DPIIT, Mr. Sanjiv, stated that it aligns seamlessly with the Government of India’s flagship programs, such as Startup India, Make in India, and AatmaNirbhar Bharat. He highlighted that the initiative is a significant step toward Vision 2047 by fostering inclusive and sustainable growth through innovation-driven entrepreneurship. 

“We aim to cultivate scalable solutions and drive transformative growth, creating a supportive environment for startups,” added Mr. Sanjiv.

It had earlier signed an MoU with the HDFC bank, read about it at: DPIIT inks MoU with HDFC Bank to empower startups with world-class banking and financial services

Creating Value 

Mr. Anil Rajput, President of ITC Corporate Affairs, stated, “The MoU will bring value to both startups and ITC by emphasizing digital innovation to enhance future readiness and operational excellence in manufacturing. It will also focus on renewable energy, supporting ITC’s commitment to sustainability.”

The Government of India, apart from this collaboration, has taken plenty of other initiatives to boost the startup ecosystem and make India home to an engaging and diversified economy. Atal Innovation Mission (AIM) is one of them. 

Read more about AIM at: What is the Atal Innovation Mission 2.0 (AIM 2.0)? Read more to know about the 8 Programs launched under AIM 2.0