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DPIIT and Bhaane Group’s MoU to Strengthen Manufacturing Startups
In a move aimed at propelling India’s manufacturing sector to global prominence, the Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Bhaane Group, a subsidiary of Shahi Exports Pvt Ltd, India’s largest apparel manufacturer. This strategic partnership is set to revolutionize the startup ecosystem by fostering innovation, entrepreneurship, and global competitiveness in the manufacturing sector.
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Empowering Startups in Manufacturing
As part of this collaboration, incubation programs will be introduced to support startups specializing in manufacturing and production. The focus will be on creating a robust ecosystem that connects Indian startups with global markets and international networks. This initiative aligns with the government’s larger vision of promoting manufacturing entrepreneurship under initiatives like Make in India and Startup India.
The Bhaane Group, leveraging its industry expertise, will provide startups with:
- Market insights to understand consumer needs and trends.
- Operational guidance to improve efficiency and scalability.
- Exposure to global business practices, enabling them to compete in international markets.
This will help early-stage startups navigate the complexities of manufacturing, enhancing their ability to innovate and thrive globally.
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Leadership Speaks: A Vision for Growth
Sanjiv, Joint Secretary, DPIIT, described the partnership as a step toward industrial innovation and entrepreneurship. He stated:
"This collaboration serves a greater good – to nurture a thriving entrepreneurial spirit and strengthen India's manufacturing landscape. By connecting startups with industry leaders like Bhaane Group, we create an environment where innovation flourishes and Indian businesses achieve global success."Anand Ahuja, CEO and Co-Founder of Bhaane Group, highlighted the rising global interest in Indian startups, noting:
"Global brands are eyeing investments in Indian startups, recognizing India as a leader in the South Asian market. DPIIT’s mission with Startup India aligns perfectly with our goal to foster innovation and enhance global competitiveness among Indian startups."
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Sumit K. Jarangal, Director, DPIIT, reiterated the significance of the MoU in supporting India’s manufacturing aspirations:
"By helping startups connect with industry leaders like Bhaane Group, we focus on promoting innovation, strengthening international dynamics, and helping Indian startups thrive on global soil."Sonam Kapoor Ahuja, Co-Founder of Bhaane Group, expressed excitement about supporting emerging brands in India:
"India is growing as a manufacturing leader, and through this collaboration, we are thrilled to empower new brands with Bhaane Group’s expertise and resources. Together with DPIIT, we aim to showcase India’s manufacturing innovation and design leadership to the world."
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A Step Toward a Global Manufacturing Hub
This collaboration marks a significant milestone in India’s journey to becoming a global manufacturing hub. By bridging the gap between early-stage entrepreneurs and established industry players, the DPIIT-Bhaane partnership aims to:
- Encourage innovation in the manufacturing sector.
- Attract investment from domestic and international stakeholders.
- Promote sustainable growth by supporting homegrown startups.
The initiative underscores India’s commitment to building a thriving startup ecosystem that drives economic growthand solidifies its position as a manufacturing powerhouse on the global stage.