The Department for Promotion of Industry and Internal Trade (DPIIT) has signed agreements with over 50 firms, including ITC, Flipkart, and Mercedes-Benz, to enhance the manufacturing and innovation ecosystem for startups.

The initiative is aimed at fostering collaboration between large corporates, industry veterans, and unicorns to support manufacturing incubators and innovation. Notable firms like boAT, HDFC Capital Advisors, Hero Moto, Zepto, Kotak Mahindra Bank, Paytm, Walmart, and Ather Energy have also joined the effort. These incubators provide startups with essential resources such as pilot and scaling facilities, reducing the burden of high capital expenditure.

They offer access to shared manufacturing, prototyping, and design centres, promoting early-stage development and growth. The move underscores the importance of collaboration between startups and medium-to-large enterprises to accelerate the growth of India’s manufacturing sector.