DPIIT signs MoU with Zepto to boost manufacturing startups through Zepto Nova challenge
The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has signed a Memorandum of Understanding (MoU) with Zepto Private Limited to support and scale early-stage manufacturing startups through the 'Zepto Nova' innovation challenge.
The six-month programme will focus on identifying and mentoring startups developing solutions in hardware, IoT, packaging, and sustainable manufacturing. These startups will receive guidance to progress from prototype development to market-ready products by leveraging Zepto's delivery and digital infrastructure.
The partnership will include mentorship, capacity building through expert-led workshops, and assistance from Startup India. Special emphasis will be placed on supporting women-led ventures and startups from Tier II and Tier III cities. Zepto aims to integrate over 100 Indian startups into its supply chain, providing them with market access and a platform to expand their presence.
Joint Secretary of DPIIT, Sanjiv, highlighted the significance of unicorns contributing to the ecosystem, stating that market access remains a critical enabler for startup success. Zepto Co-founder Kaivalya Vohra said the initiative will help shape the future of manufacturing in India.
The MoU is part of DPIIT's ongoing efforts to foster innovation, promote inclusive growth, and contribute to building a self-reliant India.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
21 minutes ago
- Business Wire
The Knot Worldwide's 2025 Global Wedding Report Reveals Bold New Era of Personalization and Purpose
NEW YORK--(BUSINESS WIRE)-- The Knot Worldwide, a leading global marketplace and family of brands championing celebration, today unveiled its 2025 Global Wedding Report, offering insights from more than 33,000 couples married in 2024 across eight countries. The report finds that modern weddings are being redefined by a new generation of couples prioritizing intentionality, personalization and authenticity at every step of their journey. 'As more Gen Zers get married, we're seeing weddings shift in deeply personal and creative ways,' said Raina Moskowitz, Chief Executive Officer at The Knot Worldwide. 'Couples today are rewriting the rules—placing more emphasis on the guest experience, while embracing traditions that reflect their identities and values. This year's report offers an insightful glimpse into how love and celebration are transforming around the world, with wedding professionals continuing to play a critical role in bringing those visions to life.' Top themes and takeaways from The Knot Worldwide 2025 Global Wedding Report: #1. Gen Z weddings are on the rise In India, Gen Z weddings are surging (62%), representing a 49 percentage point increase in 2023 compared to 2024. Similar growth trends are emerging in Brazil and Spain. In the U.S., one in three couples using The Knot are members of Gen Z. #2. Seasonal trends reflect local values Engagement season peaks in December across the U.S., U.K., Brazil, and Mexico, often aligning with holidays and family gatherings. In contrast, Indian couples are most likely to get engaged in February, around Valentine's Day. Weddings also reflect seasonal preferences, with couples favoring June ceremonies in France and Italy and October weddings in Mexico. #3. Guest experience is the priority India leads with the largest average guest count (330), while France (97) and the U.K. (89) lean more intimate. Couples continue to heavily rely on wedding professionals to bring their wedding day to life and ensure their guests have a great experience, hiring between 10 and 14 vendors on average. A separate 2025 Instagram poll of more than 1,000 people in the U.S. revealed that guest enjoyment is the top concern for the majority of couples—above even budget or logistics. Nearly 50% describe their top worry as fearing their guests won't have fun at their wedding. #4. The era of personalized, purposeful celebrations The same poll revealed 68% of respondents want guests to feel like they've never been to another wedding like theirs before. Personalized details are most likely to make a wedding memorable (36%), followed by food and drinks (23%) and entertainment (21%). #5. Urban hubs and sunny escapes top the list of wedding destinations Vendor Marketplace search data across The Knot Worldwide's brands reveal the top regional wedding hotspots by country: U.S.: New York, Washington D.C., Chicago U.K.: London, Manchester, Cardiff India: Delhi, Udaipur, Chandigarh Mexico: Ciudad de Mexico, San Miguel de Allende, Guadalajara Italy: Napoli, Roma, Palermo France: Paris, Lyon, Saint Denis Brazil: São Paulo, Rio de Janeiro, Belo Horizonte Spain: Madrid, Barcelona, Valencia For more insights and trends, check out the full report here. Methodology The 2025 Global Wedding Report captured responses from 33,174 married couples between January 1 and December 31, 2024, including 16,956 in the U.S. and 16,218 internationally (Spain, Italy, France, U.K., Brazil, Mexico, India). Respondents were recruited via social media and/or email invitation from The Knot and/or WeddingWire membership platforms. The sample reflects a wide range of ethnicities, income levels, sexual orientations, gender identities and geographies. This report also includes insights from ad hoc studies and search trends across The Knot Worldwide's global vendor marketplaces. About The Knot Worldwide Across North America, Europe, Latin America and Asia, The Knot Worldwide champions the power of celebration. The company's global family of brands provide best-in-class products, services and content to take celebration planning from inspiration to action. Through its wedding brands, including The Knot, WeddingWire, and others, the company offers an extensive database of hundreds of thousands of wedding professionals to assist couples in organizing the happiest day of their lives. We have a brand for every kind of celebration—from booking a birthday party, to planning a wedding, to preparing to become a parent, and every moment in between.
Business Upturn
an hour ago
- Business Upturn
Jacopo Venturini steps down as CEO of Valentino after five years
By Aditya Bhagchandani Published on August 14, 2025, 18:15 IST Jacopo Venturini is stepping down as CEO of Valentino, the Rome-based luxury fashion house, after five years in the role. The company confirmed on Thursday that his employment and board positions will end on August 13, following what it described as a 'mutual agreement' as Venturini takes a break for personal reasons. A successor will be announced in due course. Venturini joined Valentino in June 2020 after serving as Gucci's vice president of merchandising and global markets. At Valentino, he initially collaborated with creative director Pierpaolo Piccioli until 2024, before reuniting with former Gucci creative head Alessandro Michele, who took over as Valentino's creative director last year. The incoming CEO will inherit challenges, as Valentino faces a slowdown in the luxury sector. In 2024, the brand's sales fell 2% to €1.31 billion, while EBITDA dropped 22% year-on-year to €246 million. They will also oversee the ongoing sale of Valentino to Kering. In 2023, Qatari investment group Mayhoola sold a 30% stake in Valentino to Kering, with an option for the French luxury giant to acquire full ownership by 2028. Whether new Kering CEO Luca de Meo, who takes office on September 15, will review that agreement remains to be seen. Sources indicate Michele will remain in his role, with his next collection for Valentino set for October 5 in Paris, showcasing the Spring 2026 line. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
CNBC
an hour ago
- CNBC
CNBC's Inside India newsletter: As India's rich venture abroad, many anchor fortunes in real estate
India's wealthy may be emigrating, but they are keeping a firm grip on their real estate investments in the country and abroad, a choice that's fueling a property boom in the luxury market. In a recent newsletter, I explored how wealthy Indians are seeking other residencies abroad for strategic reasons, rather than a permanent relocation. According to Dhruba Jyoti Sengupta, CEO of Wrise Wealth Management Middle East, many of these high-net-worth individuals remain bullish on India and allocate around 80% of their investments domestically. A notable portion of this, he added, is going into real estate. "Indians, by and large, have always had a cultural affinity for real estate," Himmat Singh, managing director of global luxury real estate agency Christie's International Real Estate, told me. "Traditionally, post-independence, there were limited assets for people in India to invest in and only a small portion of investors played in the market." That legacy still shapes portfolios today, Singh said. While definitions vary, individuals with a net-worth of 50 million to 250 million Indian rupees ($571,000 to $2,855,000) are typically considered high-net-worth, while those with more than 250 million Indian rupees are considered ultra-high-net-worth. Affluent individuals fall in the 10 million-50 million Indian rupees range. For many, owning a property is a "cornerstone of wealth strategy," Wrise's Sengupta said, adding that it serves as both a financial asset and lifestyle statement. Owning residences abroad, whether for rental income, personal stays, or commercial units in which they can operate their businesses, also provides a global footprint. India's uber-rich — defined as the top 1% of Indian households, or individuals earning the top 40% of income — held on to $11.6 trillion or 59.1% of all assets held by Indian households, according to data from investment house Bernstein. Of this, $7.1 trillion, or 61.2%, is parked in real estate and gold, the same report indicated. "Rich and poor Indians have historically relied on physical assets," such as gold, land and real estate to park their savings, Manas Agarwal, vice president and analyst at Bernstein, said. The lure of real estate lies in long-term appreciation. These benefits typically outweigh the higher costs and lower liquidity associated with the asset class, experts told me. The capital appreciation on real estate has more than doubled in value over the last four years, and many have made "a significant return," Christie's Singh observed. The average wealthy Indian owns multiple types of real estate. Real Estate Investment Trusts (REITs) are becoming a popular instrument given their ability to "generate more predictable yields without the operational burden of direct property ownership," Wrise's Sengupta said. Residential and commercial properties are also popular. In the first quarter of 2025, housing prices in India rose 7.7% from the year before, outpacing the U.S., U.K. and Australia. Sales of luxury houses priced between 60 million and 500 million Indian rupees jumped 88% in the second quarter of the year compared with the same period in 2024, while the number of launches for such apartments grew 40% from the year before, a report by real estate firm CBRE showed. While prices vary across cities, $1 million can buy 99 square meters of prime property in Mumbai, data from Knight Frank's latest Wealth Report shows. By comparison, the same amount is worth 32 square meters in Singapore, 34 square meters in London and New York, 44 square meters in Shanghai and 78 square meters in Dubai. Within India, the rich typically own single-family homes, or a self-contained residential building for their daily occupancy, in major metropolises like Delhi, Mumbai or Bengaluru. Such homes are typically in a gated community and can cost at least 200 million Indian rupees for a 2,500 square feet unit in some parts of Delhi, Singh said. Beyond this, they also invest in "palatial" country homes spanning around 1 to 2.5 acres (43,560 to 108,900 square feet) located outside the city, Singh suggested. He named Alibaug, a coastal town that is a two-hour ferry ride away from Mumbai, and Chhatarpur, a town that is a nearly three-hour flight away from Delhi, as destinations with such homes. Homes in India, Singh said, are increasingly held over a five to 10 year period following a change in India's income tax rules where only gains of 100 million Indian rupees are exempt from capital gains taxes. This, he added, has resulted in less speculative investing and is a good move for the long-term stability of India's property market. For property investments outside India, the wealthy consider functionality and long term returns Singh observes. Dubai is a popular location given its strong rental yield of 6% to 7% as more companies relocate or expand there, he said. Other popular destinations include Ras Al-Khaimah in the UAE, an up and coming city that is set to generate substantial near-term gains, Thailand's Phuket and Koh Samui, where Indians visit to relax and unwind, as well as London, where many head to out of familiarity, But it's not just real estate. The analysts I spoke to said that India's wealthy are also investing in other assets. They are now looking beyond physical assets to capital markets, given "how strong they have been in the last few years," Bernstein's Agarwal said. Private markets such as venture capital, private equity, and hedge funds have also emerged as a popular option with many wealthy individuals funding global start-ups to tap into the growth they will enjoy from increasing their total addressable market, Himanshu Kohli, co-founder of Indian multi-family office and private wealth manager at Client Associates, told me. Cryptocurrency is also finding a place in portfolios, albeit at a small percentage of around 2%, as investors are betting on the bitcoin rally as a hedge against macroeconomic uncertainties, said Sengupta. India's wealthy are also looking for opportunities outside the country. "Ten years ago, wealthy Indians invested almost entirely at home. Today, it's India plus the world. India remains the growth engine, with capital flowing into companies, startups, and pre-IPO opportunities — but now, global investments in equities, private markets, and overseas property are built in early, not just at retirement," Sengupta noted. CS Vigneshwar, president of India's Federation of Automobile Dealers Associations, said the country's auto component manufacturers will explore markets in Asia and Europe in response to rising U.S. tariff risks. Kanika Pasricha, chief economic advisor at Union Bank of India, expected the government to announce measures to boost export-oriented sectors and reinforce its Make in India initiative. Jim O'Neill, former U.K. Treasury Minister and Goldman Sachs Asset Management chairman and chief economist, discussed his reaction to new tariffs imposed by the Trump Administration on India and much more. Inflation in India slows to its lowest since 2017. The consumer price index for July came in at 1.55%, lower than the 1.76% estimated by a Reuters poll of economists. Food prices dropped 1.76%. Indian IT companies have been trimming roles. Tata Consultancy Services, Wipro and Infosys have reportedly been laying off employees or slowing hiring in recent months. In light of that, should investors steer clear of those companies' stocks? India and China are restarting flights. Air travel was suspended during the Covid-19 pandemic, and as bilateral relations deteriorated during a 2020 border dispute. The resumption of flights expected to boost not just tourism but cooperation in other areas between the two markets were muted on Thursday, with both the benchmark Nifty 50 and the BSE Sensex index closing flat. The benchmark 10-year Indian government bond yield had fallen to trade at 6.4045%. August 15: Independence Day, trade data for July August 18: Unemployment rate for July August 19: Online jewelry store Bluestone Jewellery and Lifestyle IPO August 20: Agro-processing firm Regaal Resources IPO August 21: HSBC manufacturing and services flash PMI for August
