Department for Promotion of Industry and Internal Trade (Source: DPIIT website)
New Delhi [India], October 23 (ANI): The Department for Promotion of Industry and Internal Trade (DPIIT), Commerce and Industry Ministry, has signed a Memorandum of Understanding (MoU) with Primus Partners Pvt Ltd. to enhance collaboration towards strengthening India’s startup and innovation ecosystem.
The ministry said in a release that the partnership seeks to enhance support for early-stage and growth-stage product startups through structured capacity-building interventions, expert mentorship, market access initiatives, policy awareness drives, and facilitation of technology integration.
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Speaking on the occasion, Sanjiv, Joint Secretary, DPIIT, said the collaboration reaffirms DPIIT’s commitment to fostering an innovation-led economy that thrives on creativity, technology, and enterprise.
“India’s startup ecosystem today stands at the cusp of global transformation. By strengthening linkages between policy, industry, and innovation, we aim to create pathways that empower startups to drive sustainable growth, job creation, and India’s emergence as a global innovation powerhouse.”
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Davinder Sandhu, Co-Founder and Chairman, Primus Partners, stated that the partnership with DPIIT would facilitate structured engagement with the startup community through mentoring, knowledge sharing, and industry linkages. He noted that such initiatives will contribute to building a robust environment that supports innovation and entrepreneurship in the country.
The MoU reinforces DPIIT’s focus on enabling industry-led engagement to strengthen India’s startup ecosystem, promoting innovation, self-reliance, and inclusive economic growth.
Separately, DPIIT signed a Memorandum of Understanding (MoU) with Kotak Mahindra Bank Ltd. to enhance financial and non-financial support for startups across India.
This strategic collaboration aims to create a comprehensive framework enabling startups to access customised banking solutions, credit and funding opportunities, digital and payment infrastructure, and capacity-building programs.
Under the MoU, Kotak Mahindra Bank will extend a range of dedicated offerings for DPIIT-recognised startups, including zero-balance current accounts, working capital and term loans, API-based banking platforms, digital payment solutions, and specialised startup cards. The Bank will also facilitate access to mentorship, investment advisory, incubation support, and networking platforms, helping startups progress from ideation to scale, a release added. (ANI)
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