Schedule a Call Back
DPIIT and Moglix ink MoU to launch manufacturing incubation initiative
Industry News- Dec 04,24
The program will support over 25 growth phase startups in industries such as chemicals, automotive, infrastructure, and green energy.
The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Moglix, Asia's leading B2B e-commerce platform, to launch a manufacturing incubation initiative. This collaboration marks a significant milestone in India’s manufacturing journey, supporting the vision of a Viksit Bharat. The initiative aims to equip growth phase startups with tools, resources, and opportunities to accelerate their progress and drive innovation in the manufacturing sector.
The program will support over 25 growth phase startups in industries such as chemicals, automotive, infrastructure, and green energy. These startups will participate in a 12-month program offering access to Moglix’s extensive mentor network, supply chain infrastructure, and financial support via Credlix, its NBFC arm. DPIIT will enhance the program’s reach through the Startup India ecosystem, facilitating adoption, resource-sharing, and nationwide outreach.
Sanjiv Singh, Joint Secretary, DPIIT, remarked, “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, Moglix, added, “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.”
Aligned with the vision of Atmanirbhar Bharat, this initiative will provide startups with collaborations, investment opportunities, and resources to create globally competitive products. It also aims to increase India’s manufacturing contribution to GDP and help startups expand into international markets.
This partnership reflects Moglix’s commitment to strengthening supply chains while addressing the challenges faced by growth stage manufacturing startups. It aligns with India’s national goals of boosting the manufacturing sector’s GDP contribution and positioning the country as a global industrial leader.
Related Stories
Machine Tools & Accessories
India’s stainless steel demand rises 8% in FY25, says ISSDA
India’s installed stainless steel production capacity currently stands at 7.5 million tonnes, with a utilisation rate of around 60%.
Read moreElectrical & Electronics
Saatvik Green begins construction for new solar manufacturing plant in Odisha
The facility is being developed on land sub-leased from Tata Steel Special Economic Zone Limited (TSSEZL)
Read moreRailways
Texmaco and Rail Vikas Nigam join forces to modernise India's rail infra
Two companies plan to set up a state-of-the-art wheelset manufacturing unit to improve domestic supply chains and reduce import dependence.
Read moreRelated Products
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
