New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, has signed a Memorandum of Understanding (MoU) with the Bhaane Group, a subsidiary of Shahi Exports Pvt Ltd, the largest manufacturer of apparel, as per a report in the Press Information Bureau.
This collaboration is set to launch incubation programmes for startups specialising in manufacturing, along with other production areas.
The programme will also foster relationships with international startup ecosystems, which is part of the government’s thrust on promoting new manufacturing entrepreneurs across the country.
Through its extensive experience, the private firm will support upcoming startups by providing access to market insights.
The firm will also facilitate creation of a holistic understanding of the workings of foreign markets, along with guidance on operational knowledge throughout the startup lifecycle.
Sanjiv, Joint Secretary, DPIIT, was quoted by PIB as saying, “This collaboration serves a greater good – to nurture a thriving entrepreneurial spirit and strengthen India’s manufacturing landscape. By facilitating connections between startups and established players like Bhaane Group, we foster a mutually beneficial environment where innovation flourishes and Indian businesses achieve global success.”
Anand Ahuja, CEO and Co-Founder of Bhaane Group said, “Global brands are eyeing investment in Indian startups, as it is one of the leading players in the South Asian market. DPIIT’s mission with StartUp India aligns with our outlook to foster innovation and global competitiveness among Indian startups.”
(This piece was first published by Press Information Bureau and can be accessed here)
