Shree Cement ties up with DPIIT to support startups in manufacturing sector

Shree Cement Ltd on Tuesday said it has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to support startups in the manufacturing sector and drive innovation.

Through this partnership, Shree Cement aims to support product startups by offering infrastructure, mentorship, access to funding, and market connections, guiding them from prototype development to potential international expansion, the company said in a statement.

"Our partnership with DPIIT reinforces our commitment to fostering innovation in the manufacturing sector. We believe this partnership will play an important role in promoting self-reliance through domestic manufacturing and import substitution," Shree Cement Managing Director Neeraj Akhoury said.

DPIIT Director Sumeet Jarangal said, "This partnership between Shree Cement and DPIIT will lay the foundation for a brighter future for early stage manufacturing startups and is a strong step in making India a manufacturing hub in the cement sector."

The MoU aims to strengthen and support India's manufacturing ecosystem by encouraging product startups, innovators, and entrepreneurs, the statement said.