New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with ITC Limited, to bolster India’s startup ecosystem, the Press Information Bureau (PIB) said in a statement Wednesday.
The collaboration aims to leverage ITC’s extensive market network and expertise to support startups nationwide, creating new market opportunities and fostering technological innovation.
The memorandum of understanding (MOU) will see ITC deploy startup solutions in various sectors, including digital platforms for manufacturing execution systems (MES), integrating renewable energy options for manufacturing sites, and energy storage systems.
“The MOU will create value for both the startups and ITC,” said Anil Rajput, president of ITC Corporate Affairs. “It will focus on digital for increased future-ready and operational excellence in manufacturing, and in the area of renewable energy to expand ITC’s sustainable.”
Echoing this sentiment, Sanjiv, joint secretary of DPIIT, emphasized the partnership’s role in fostering a conducive environment for startups. “We look forward to fostering scalable solutions and transformative growth to ensure a conducive environment for startups,” he said. This collaboration signifies a major step toward realizing India’s Vision 2047 goals through innovation and entrepreneurship.