New Delhi: In another significant development to further promote entrepreneurship and innovation, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has entered into a strategic partnership with ITC Limited, one of India’s leading diversified conglomerates.

This collaboration charts a shared vision to accelerate startup growth and technological advancement, besides creating viable market opportunities for startups across the country.

The Memorandum of Understanding (MoU) sets the tone for a dynamic partnership where ITC’s vast experience and expertise with an extensive market network will complement DPIIT’s initiative for supporting startups across the country.

Under this partnership, ITC is looking to deploy startup solutions in key areas such as digital platforms for Manufacturing Execution Systems (MES), integrating renewable energy opportunities for manufacturing locations, and energy storage systems.

Highlighting this pro-startup initiative, Joint Secretary, DPIIT, Sanjiv said that it aligns closely with the Government of India’s flagship programs, including Startup India, Make in India, and AatmaNirbhar Bharat. Moreover, it is also a key step in contributing to Vision 2047 by promoting inclusive and sustainable growth through innovation-led entrepreneurship. “We look forward to fostering scalable solutions and transformative growth to ensure a conducive environment for startups,” added Sanjiv.

Meanwhile, Anil Rajput, President, ITC Corporate Affairs, mentioned, “The MoU will create value for both the startups and ITC. It will focus on digital initiatives for increased future-ready and operational excellence in manufacturing, and in the area of renewable energy to expand ITC’s sustainable practices.”

BI Bureau