Moglix signs initial pact with DPIIT for manufacturing incubation programme

B2B e-commerce platform Moglix on Wednesday said it has signed an initial pact with the Department for Promotion of Industry and Internal Trade (DPIIT) for manufacturing incubation programme.

The initiative aims to equip growth phase startups with tools, resources, and opportunities to accelerate their progress and drive innovation in the manufacturing sector, Moglix said.

The programme will support over 25 growth phase startups in industries such as chemicals, automotive infrastructure and green energy, Moglix said.

These startups will participate in the 12-month manufacturing incubation programme offering access to Moglix's extensive mentor network, supply chain infrastructure, and financial support via its NBFC arm Credlix, it said.

"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 of Moglix.

DPIIT, on its part, will enhance the programme's reach through the startup India ecosystem, facilitating adoption, resource-sharing, and nationwide outreach, according to the platform.

"Startups are catalysts for India's economic and technological progress. This Memorandum of understanding with Moglix underscores our commitment to fostering innovation, nurturing entrepreneurship, and building a resilient manufacturing ecosystem aligned with India's vision of self-reliance," Sanjiv Singh, Joint Secretary, DPIIT said.

Aligned with the vision of Atmanirbhar Bharat, this initiative will provide startups with collaborations, investment opportunities, and resources to create globally competitive products. It also aims to increase India's manufacturing contribution to GDP and help startups expand into international markets, Moglix stated.