New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT) has taken various steps to promote and support the growth of manufacturing startups in India in line with the government’s commitment to making it easier for businesses to start and grow, as well as to enhance the competitiveness of Indian manufacturing, said a statement by the Ministry of Commerce and Industry.
In one such step, the DPIIT set up a dedicated pavilion for incubators and startups in the business-to-business (B2B) manufacturing sector during the first-ever ‘Startup Mahakumbh’ festival. Organised jointly by the DPIIT and its partners, the festival platformed discussions around the importance of manufacturing incubators and their institutionalisation.
As part of its efforts to promote manufacturing innovation, DPIIT also organised an ‘ONDC-Startup Mahotsav’, which saw participation from emerging businesses and unicorns. During this event, DPIIT encouraged the companies to explore vertical and horizontal integration with startups to promote domestic manufacturing. The DPIIT has also taken part in initiatives such as the National Council for Cement and Building Materials (NCB-IC) inaugurated to support startups in that sector.
The DPIIT is committed to providing support and ecosystem building opportunities to manufacturing startups as a key step in ensuring the growth and competitiveness of India’s manufacturing sector. The various measures taken by DPIIT will help to create an enabling environment for the growth of manufacturing startups and strengthen India’s manufacturing base, said the statement.
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