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.
DPIIT and Moglix ink MoU to launch manufacturing incubation initiative

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

Electrical & Electronics
Will solar manufacturing glow in India as renewable energy demand surges?

Will solar manufacturing glow in India as renewable energy demand surges?

While India has successfully increased domestic solar module production, import of solar cells remains high. As India plans to add 60-65 GW of solar capacity, will it be a sunshine moment for solar ..

Read more
Process Equipment
Vipul Organics forays into membrane manufacturing

Vipul Organics forays into membrane manufacturing

The company will build a separate facility for membrane manufacturing at its greenfield project at Saykha, Gujarat.

Read more
Auto & Auto Components
China’s Rare Earth Elements Curb Jolts Indian Auto Sector into Action

China’s Rare Earth Elements Curb Jolts Indian Auto Sector into Action

While Rare Earth Elements (REE) based components are utilised in traditional ICE vehicles, the production of EVs is fundamentally reliant on them—without REEs, manufacturing an EV is virtually imp..

Read more

Related Products

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016