DPIIT signs agreement with ITC to help startups in manufacturing sector

The Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday said it has entered into a strategic partnership with ITC Ltd to help startups in the manufacturing sector.

"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," the department said.

It added that a Memorandum of Understanding (MoU) has been signed which will set the tone for a partnership where ITC's experience and expertise with extensive market network will complement DPIIT's initiative for supporting startups across the country.

DPIIT Joint Secretary Sanjiv said, "We look forward to fostering scalable solutions and transformative growth to ensure a conducive environment for startups."  Startup India Director Sumeet Kumar Jarangal said this would help provide hassle-free market access to startups in terms of unbound opportunities to work out viable solutions as per business requirements of the organisation through ITC's extensive network and rich experience.

Anil Rajput, President of ITC Corporate Affairs, said the MoU will focus on digital capabilities for increased future-ready and operational excellence in the manufacturing sector, and in the area of renewable energy to expand ITC's sustainability initiative.