The Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce Ministry has signed a Memorandum of Understanding (MoU) with B2B e-commerce platform Moglix to provide 12-month incubation support to manufacturing startups. The initiative will support over 25 growth-stage startups in the chemicals, automotive, infrastructure, and green energy sectors.
Startups will be provided with access to Moglix’s mentor network, supply chain infrastructure, and financial support via Credlix, its NBFC arm while DPIIT will enhance the programme’s reach through its Startup India ecosystem, facilitating adoption, resource-sharing, and nationwide outreach for startups.
Speaking on the collaboration, Sanjiv Singh, Joint Secretary, DPIIT said, “Startups are catalysts for India’s economic and technological progress. This MoU with Moglix underscores our commitment to fostering innovation, nurturing entrepreneurship, and building a resilient manufacturing ecosystem aligned with India’s vision of self-reliance.”
The initiative will also enable startups with collaborations, investment opportunities, and resources to create globally competitive products, Moglix said in a statement.
“This collaboration is a transformative step for India’s manufacturing sector. 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,” said Rahul Garg, Founder and CEO, Moglix.
Moglix is currently valued at $2.6 billion and offers over 7 lakh industrial items while supporting over 1,000 large manufacturers and 3,000 factories.
The tie-up with Moglix is the latest in similar collaborations by DPIIT recently to promote manufacturing startups. It has also partnered with companies including HCLSoftware, Merck Life Science, Shree Cement, Johnson Controls-Hitachi, Michelin, and more to support startups in manufacturing.