Uncategorized

Moglix Partners with DPIIT to Drive Manufacturing Innovation in India

0
Moglix X DPIIT
Moglix X DPIIT

Moglix, a leading B2B e-commerce platform, has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to boost innovation and entrepreneurship in India’s manufacturing sector. This strategic collaboration seeks to provide growth-phase startups with the necessary resources and opportunities to thrive in critical industries such as chemicals, automotive, infrastructure, and green energy.

Focus on Empowering Startups

The initiative will support over 25 startups through a structured 12-month incubation program, offering access to:

  • Mentorship: Moglix’s expansive mentor network, featuring seasoned industry leaders and experts.
  • Supply Chain Infrastructure: Enhanced operational efficiency via Moglix’s robust supply chain ecosystem.
  • Financial Support: Leveraging Credlix, Moglix’s non-banking financial company (NBFC) arm, to provide tailored funding solutions.

DPIIT’s Role in Startup Development

The DPIIT will utilize its Startup India ecosystem to enhance the program’s reach and effectiveness. This includes fostering collaborations, sharing critical resources, and promoting the initiative across India. Through this partnership, Moglix and DPIIT aim to nurture a robust, innovation-driven manufacturing ecosystem.

Alignment with Atmanirbhar Bharat

The collaboration directly aligns with India’s Atmanirbhar Bharat (self-reliant India) mission. By equipping startups with essential resources, the program aims to:

  • Increase India’s manufacturing sector contribution to GDP.
  • Promote indigenous production and reduce reliance on imports.
  • Enable startups to scale globally and enhance India’s position as a competitive manufacturing hub.

Industry Impact

Moglix’s recent acquisition of Khatema Fibres, a paper manufacturing firm, for ₹80 crore, highlights its commitment to strengthening the domestic manufacturing ecosystem. This strategic move enhances its portfolio and aligns with its goal of fostering innovation and sustainability in manufacturing.

By targeting growth-phase startups, the initiative addresses critical gaps in India’s manufacturing sector, such as access to advanced technologies, operational resources, and funding.

Leadership Insights

Sanjiv Singh, Joint Secretary of DPIIT, emphasized the importance of startups in driving economic progress:

“Startups are catalysts for India’s economic and technological progress. This MoU with Moglix underscores our commitment to fostering innovation, nurturing entrepreneurship, and building a resilient manufacturing ecosystem aligned with India’s vision of self-reliance.”

Rahul Garg, Founder and CEO of Moglix, highlighted the transformative potential of this partnership:

“This collaboration is a transformative step for India’s manufacturing sector. By combining Moglix’s technological expertise with DPIIT’s strategic guidance, we aim to build a sustainable, innovation-driven manufacturing economy that empowers entrepreneurs and aligns with India’s vision of becoming a global manufacturing hub.”

The Road Ahead

This partnership sets the stage for a new era in India’s manufacturing industry, where startups can access the tools and resources needed to innovate and scale. With Moglix’s technological capabilities and DPIIT’s strategic oversight, the program is poised to transform India into a global manufacturing powerhouse while driving sustainable and inclusive economic growth.

Key Takeaways

  • 12-month incubation program for over 25 startups.
  • Focus on critical sectors like green energy, automotive, and infrastructure.
  • Strategic alignment with Atmanirbhar Bharat to boost manufacturing GDP contribution.
  • Enhanced global competitiveness for Indian startups.

Moglix’s collaboration with DPIIT signals a significant leap forward in fostering a future-ready manufacturing ecosystem powered by innovation and sustainability.

arjun

Agrileaf Secures ₹16 Crore Growth Funding for Sustainable Dinnerware Expansion

Previous article

Allen Career Institute in Advanced Talks to Acquire Unacademy: A Potential Shift in Indian EdTech

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *