New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT) on Thursday said it has inked a pact with furniture sector firm Hafele India to help startups in the manufacturing sector.
Under the Memorandum of Understanding (MoU), Hafele will drive initiatives that support product innovation, local sourcing, and entrepreneurship through targeted investments, mentorship, and integration into global value chains.
It will expand its support to startups and MSMEs by offering access to infrastructure, supplier development opportunities, technical collaboration, and market access, the department said.
The DPIIT will facilitate ecosystem access through Startup India, enabling startup connections, program participation, and co-branding.
Sumeet Kumar Jarangal, Director, DPIIT, said, "Through investments, mentorship, and ecosystem partnerships, we aim to empower startups that are building the next generation of globally competitive manufacturing capabilities."
Sanjiv, Joint Secretary, DPIIT, said that the partnership will bring together global best practices and local entrepreneurial energy to drive sustainable manufacturing growth aligned with the Make in India vision.
The MoU was signed by Jarangal and Frank Schloeder, Managing Director - South Asia, Hafele India.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)