DPIIT Teams with Moglix to Drive Startup Growth in Manufacturing

The Memorandum of Understanding (MoU) signed between the Department for Promotion of Industry and Internal Trade (DPIIT) and Moglix, a B2B e-commerce platform, aims to support startups in their growth phase by providing tools, resources, and opportunities to accelerate their development and foster innovation in the manufacturing industry.

Sanjiv Singh, Joint Secretary of DPIIT, remarked, “This MoU with Moglix highlights our dedication to promoting innovation, supporting entrepreneurship, and creating a robust manufacturing ecosystem in line with India’s goal of self-reliance.”

This initiative will assist more than 25 startups in the growth phase spanning sectors like chemicals, automotive, infrastructure, and renewable energy. They will engage in a year-long program that provides access to Moglix's network of mentors, supply chain resources, and financial assistance through Credlix, its non-banking financial company (NBFC) division.

DPIIT will oversee the program's impact via the Startup India ecosystem, promoting adoption, sharing of resources, and outreach across the nation.

“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 at Moglix. 

The advancement occurs as several companies are setting up incubators and accelerators to support startups within the nation.