The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a Memorandum of Understanding (MoU) with Moglix, Asia's leading B2B e commerce platform, to launch a new manufacturing incubation initiative.
This partnership marks a significant milestone in India’s efforts to strengthen its manufacturing sector and move toward becoming a Viksit Bharat (developed India).
The initiative is designed to support growth-stage startups in industries such as chemicals, automotive, infrastructure, and green energy. Over the course of a 12-month program, the selected startups will receive comprehensive support, including access to Moglix’s extensive mentor network, supply chain infrastructure, and financial resources through Credlix, Moglix’s non-banking financial company (NBFC) arm.
The program is set to benefit more than 25 startups, offering them the tools and resources necessary to accelerate their innovation and growth.
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Boosting Outreach via Startup India
DPIIT will enhance the program’s outreach through its Startup India ecosystem, which will help facilitate wider adoption, resource-sharing, and engagement across the nation. Sanjiv Singh, Joint Secretary of DPIIT emphasized that startups play a crucial role in Indias economic and technological development. He said "This MoU with Moglix highlights 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 described the collaboration as a transformative step for India’s manufacturing sector. He stated "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."
This initiative aligns closely with the Atmanirbhar Bharat vision aiming to support startups with collaborations, investment opportunities and the resources needed to create products that are competitive on the global stage. It seeks to boost the contribution of Indias manufacturing sector to the country’s GDP while helping startups expand into international markets.
The partnership underscores Moglix’s commitment to strengthening supply chains and addressing the challenges faced by growth stage manufacturing startups.
By fostering innovation and improving access to key resources the initiative supports Indias national goals of boosting the manufacturing sector’s GDP contribution and positioning the country as a global industrial leader.
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