Latest news with #DPIIT-recognised
Hindustan Times
24-07-2025
- Automotive
- Hindustan Times
Maruti Suzuki, DPIIT join hands to boost startup innovation in auto, mobility space
Maruti Suzuki India has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT), which is part of the Ministry of Commerce and Industry, to support and foster startups in the areas of automotive production and mobility innovation. The partnership follows the path to create a stronger technology ecosystem in India's auto sector. The MoU complements the Government of India's 'Startup India' programme via which DPIIT-recognised startups would now be able to engage with Maruti Suzuki's innovation programmes. The MoU complements the Government of India's 'Startup India' programme via which DPIIT-recognised startups would now be able to engage with Maruti Suzuki's innovation programmes. The intention is to support the creation of scalable, technology-led solutions in the automotive and mobility sector. Startups will benefit from industry-specific mentorship, business insights, and validation of their ideas through Maruti Suzuki's infrastructure and operational testbeds as part of this collaboration. Also Read : Maruti Suzuki Fronx becomes the fastest crossover SUV to clock 1 lakh exports from India Maruti Suzuki already runs a portfolio of startup engagement initiatives such as its Accelerator, Incubation, Mobility Challenge, and Nurture programs. Over the past six years, more than 5,220 startups have been screened by the company, out of which around 150 were actively engaged. Twenty-eight of those have eventually become partners, contributing to business outcomes. The MoU was exchanged in the presence of several key representatives from both sides, including Sanjiv, Joint Secretary, DPIIT, Anjali Bansal, Independent Director, Maruti Suzuki and executives from Maruti Suzuki's corporate and digital enterprise teams such as Sunil Kakkar, Rahul Bharti and Dr. Tapan Sahoo. Commenting on the partnership, Rahul Bharti, Senior Executive Officer, Corporate Affairs at Maruti Suzuki, stated that this initiative will help support promising startups as they build innovative automotive and mobility solutions. He emphasized the company's ongoing commitment to both 'Startup India' and 'Make in India' through strategic industry collaboration. DPIIT's vision for startup growth Representing the DPIIT, Joint Secretary Sanjiv said the collaboration with Maruti Suzuki aims to strengthen India's leadership in next-generation industrial innovation. He noted that Maruti Suzuki's scale and legacy in the automotive industry could offer significant value to startups trying to commercialize early-stage ideas. Also Read : Maruti Suzuki hits 5,500 after sales touchpoints, services 2.7 crore vehicles in FY 2024–25 Seconding such views, Md. Alam Ansari, Startup India Deputy Director, emphasized the need to arm startups with the capabilities and institutional support required to scale up in-country and abroad. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date:
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Business Standard
11-07-2025
- Business
- Business Standard
Globalisation must be tempered to local needs: FM Nirmala Sitharaman
The need of the hour is to have globalisation that is tempered to local requirements and a form of capitalism that includes humanism, Finance Minister Nirmala Sitharaman said on Friday. Speaking at the Indian Institute of Corporate Affairs (IICA) North East Conclave in Shillong, Meghalaya, the Finance Minister said, 'We don't need globalism that will sweep us out. What we need now is to embed your business with more accountable practices.' Sitharaman was referring to the ethical principles that govern the North East region, one of which, she said, was the respect for kinship and community, reflecting the essence of stakeholder capitalism. The Finance Minister stressed the need for the North East region to have better logistics, such as airlifting and warehousing facilities, to transport goods across the country with greater speed and efficiency. 'There is a lot of work yet to happen — this is my grievance and, for that, I think a lot more work has to be done. There's no way in which, by now, pineapples should have to travel by road all the way to Mumbai,' Sitharaman said. The IICA, an organisation under the Ministry of Corporate Affairs, has set up its second campus in Shillong. Established in 2006, the IICA functions as a think tank assisting the Ministry of Corporate Affairs (MCA) and providing capacity building for public and private sector professionals in corporate governance and public policy. While highlighting that there are 2,300 DPIIT-recognised startups in the North-East region, of which 69 are based in Meghalaya, Sitharaman said, 'It is important that institutions like IIM Shillong help in cross-pollination, bringing all professionals together, meeting regularly. And now that IICA is here, they should become the agents of bringing people together so that greater discussions and compliance-related issues can be addressed.' Praising the setting up of the IICA branch in Shillong, Sitharaman said that youngsters were quickly catching up with what the world wants them to do. If policy support also follows, it marks a very good stage for entrepreneurship development.
Time of India
21-05-2025
- Business
- Time of India
Razorpay partners MeitY Startup Hub
Razorpay has announced a partnership with the MeitY Startup Hub (MSH), an initiative under the Ministry of Electronics and Information Technology. With this partnership, Razorpay and MSH, together, aim to empower the next wave of deep tech and emerging tech startups by providing them access to advanced fintech infrastructure , tailored mentorship, product credits, and an innovation-first ecosystem. MSH, a key pillar of India's tech-forward vision, unites incubation centers, Centres of Excellence, and strategic stakeholders to accelerate the growth of high-impact, tech-driven startups. As India crosses the milestone of over 159,000 DPIIT-recognised startups and 1.6 million jobs created, MSH continues to drive this momentum, especially across Tier 2 and Tier 3 cities, by enabling startups to access mentorship, compliance support, scale sustainably, and build for the future. This partnership is designed to support startups building transformative technologies in areas like AI, blockchain, robotics, IoT, and beyond - providing them the tools, networks, and backing to solve for India, and scale for the world. Under this partnership, all startups associated with MSH will gain access to Razorpay Rize, the company's flagship initiative aimed to empower early-stage startups.
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Business Standard
20-05-2025
- Business
- Business Standard
Razorpay, MeitY Startup Hub partner to boost India's deep-tech startups
Financial technology giant Razorpay has partnered with the MeitY Startup Hub (MSH), an initiative under the Ministry of Electronics and Information Technology. Through this collaboration, the two entities aim to accelerate the growth of deep-tech and emerging technology startups by offering access to Razorpay's fintech infrastructure, customised mentorship, product credits and an innovation-centric ecosystem. The initiative is designed to bolster India's startup landscape by supporting early-stage ventures working on transformative technologies. The partnership is targeted at startups building technologies in areas such as AI, blockchain, robotics, IoT and beyond. It will provide them with tools, networks and institutional backing to solve for India and scale globally. 'As India advances toward becoming a global innovation powerhouse, it is critical that our startups grow with both agility and integrity. Our partnership with Razorpay will empower founders, especially in Tier 2 and Tier 3 cities, to build with speed and confidence. Peer learning and shared networks remain powerful enablers,' said Panneerselvam Madanagopal, CEO, MeitY Startup Hub. 'As MeitY Startup Hub becomes custodian of deep-tech and driver of inclusive tech, partnerships like these will accelerate impact — ensuring startups scale with clarity, purpose and resilience.' MSH unites incubation centres, Centres of Excellence and strategic stakeholders to accelerate the growth of high-impact, tech-driven startups. As India crosses the milestone of over 159,000 DPIIT-recognised startups and 1.6 million jobs created, MSH continues to drive this momentum, especially in Tier 2 and Tier 3 cities, by enabling startups to access mentorship, compliance support, and scale sustainably. 'Most transformative ideas begin in unlikely places — with a lone founder solving a real problem, fuelled by belief more than resources. But turning belief into a business takes the right infrastructure, wisdom and a community that has your back. If we want to build for the next billion, we must empower the next million builders,' said Arif Khan, chief innovation officer, Razorpay. 'This partnership with MeitY Startup Hub is about giving early-stage founders the tools, authentic mentorship and confidence to build boldly.' Under this partnership, all startups associated with MSH will gain access to Razorpay Rize, the company's flagship initiative dedicated to empowering early-stage startups. Through Rize, startup founders will benefit from a seamless company incorporation experience, with priority support for registering as a private limited company, limited liability partnership (LLP) or one-person company (OPC). They will also gain access to a suite of founder-first resources designed to help formalise and grow their ventures with ease and efficiency. This includes support for Y Combinator applications, expert-led pitch deck reviews, comprehensive founder toolkits and a dedicated content hub. Every quarter, a cohort of startups shortlisted by Rize will also gain access to the exclusive Razorpay Rize Community, featuring curated peer networks, mentorship from Razorpay experts and ecosystem leaders. Benefits include a verified founder directory and invitation-only masterclasses focused on navigating the early stages of building and scaling a startup. To further support operational readiness, startups will also receive exclusive credits across Razorpay's product suite, including its payment gateway, business banking platform and payroll management solution — providing financial infrastructure from day one. This partnership forms part of Razorpay's broader effort to support entrepreneurs across India, including in emerging cities. Beyond MeitY Startup Hub, Razorpay has partnered with state governments such as Rajasthan, Assam and Kerala to deliver region-specific programmes tailored to local startup needs.
Business Standard
20-05-2025
- Business
- Business Standard
IndusInd Bank signs MoU with Department for Promotion of Industry and Internal Trade
IndusInd Bank today announced that it has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to nurture innovation and entrepreneurial growth in India. This strategic partnership brings together the strengths of DPIIT's Startup India initiative and IndusInd Bank's financial expertise to create opportunities for startups, innovators, and entrepreneurs nationwide. The collaboration offers start-ups, innovators and entrepreneur tailored banking solutions, including cash management, working capital, and credit facilities. A key feature is enhanced support under the Credit Guarantee Scheme for Startups (CGSS), allowing collateral-free loans with a raised guarantee cover of up to ₹20 crore for DPIIT-recognised start-ups. Additionally, the guarantee fees for debt funding in 27 Champion Sectors has been reduced to further ease access to credit. These measures help start-ups mobilise capital and invest in advanced technologies and manufacturing.
