Moglix, a leading B2B e-commerce platform, has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to roll out a manufacturing incubation program aimed at fostering innovation and growth among startups in the sector. The initiative seeks to provide growth-stage startups with the necessary tools, resources, and opportunities to accelerate their development and drive advancements in manufacturing industries such as chemicals, automotive, infrastructure, and green energy. The program plans to support more than 25 startups over a 12-month period.
Participating startups will gain access to Moglix’s extensive mentor network, supply chain infrastructure, and financial assistance through its NBFC arm, Credlix. This comprehensive support structure is designed to help startups overcome challenges and scale efficiently.
Rahul Garg, Founder and CEO of Moglix, remarked, “This collaboration marks a pivotal moment for India’s manufacturing sector. By leveraging Moglix’s technological expertise and DPIIT’s strategic vision, we aim to create a sustainable, innovation-led manufacturing economy that empowers entrepreneurs and aligns with India’s ambition to become a global manufacturing leader.”
DPIIT will amplify the program’s impact through its Startup India ecosystem, enhancing adoption, resource-sharing, and broadening its reach nationwide. Joint Secretary Sanjiv Singh highlighted the initiative’s significance, stating, “Startups are key drivers of India’s economic and technological growth. This partnership with Moglix reflects our dedication to fostering innovation, supporting entrepreneurs, and building a robust manufacturing ecosystem in line with India’s self-reliance goals.”
Aligned with the vision of Atmanirbhar Bharat, this program aims to foster collaborations, provide investment opportunities, and enable startups to develop globally competitive products. By doing so, it seeks to boost India’s manufacturing sector’s contribution to GDP while helping startups expand into international markets.
