The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Shiprocket to support the growth of Direct-to-Consumer (D2C) startups, product creators, and entrepreneurs. Saahil Goel, CEO of Shiprocket, and Sumeet K Jarangal, Director of DPIIT, signed the MoU. Sanjiv Singh, Joint Secretary of DPIIT, was also present during the event.

“This partnership is set to play a pivotal role in enhancing India’s manufacturing capabilities, promoting the development of high-quality, scalable products, and creating a seamless pathway for startups to thrive. By integrating innovative solutions with cutting-edge manufacturing practices, this initiative will help transform India into a global hub for advanced manufacturing,” Singh wrote on LinkedIn.

Saahil Goel, also commented on the partnership, informing that the collaboration will help entrepreneurs have access to better shipping, fulfilment and expansion tools. They will also receive mentorship and resources to succeed faster. “The goal is simple: help businesses grow, innovate, and contribute to a more self-reliant and thriving Bharat,” he shared in a LinkedIn post. This MoU is an initiative to help India become a global leader in manufacturing and entrepreneurship.

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DPIIT has taken several initiatives to promote local innovation and entrepreneurship in India. The Startup India Initiative, launched on January 16, 2016, is a flagship program of the Government of India. It is managed by a team dedicated to the initiative, which reports to the DPIIT, operating under the Ministry of Commerce and Industry.

As of September 25, 2024, DPIIT has recognised 148,931 startups, making India the third-largest startup ecosystem globally. These startups have collectively generated approximately 15.5 lakh direct jobs, significantly contributing to the country’s economic growth.

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