The department for promotion of industry and internal trade (DPIIT) has entered into a partnership with cigarette-to-consumer goods conglomerate ITC to help startups in the manufacturing sector, according to a statement on Wednesday.
According to the memorandum of understanding (MoU) signed for the purpose, ITC’s experience and expertise with the market network will complement DPIIT’s initiative for supporting startups across the country.
Under the partnership, ITC will deploy startup solutions in key areas such as digital platforms for manufacturing execution systems, integrating renewable energy opportunities for manufacturing locations, and energy storage systems.
Startup India director Sumeet Kumar Jarangal said this would help provide hassle-free market access to startups, providing unbound opportunities to work out viable solutions as per their organisation’s business requirements.
“It will focus on digital for increased future-ready and operational excellence in manufacturing, and in the area of renewable energy to expand ITCs sustainable,” said Anil Rajput, president of corporate affairs at ITC.
DPIIT joint secretary Sanjiv said, “We look forward to fostering scalable solutions and transformative growth to ensure a conducive environment for startups.”