In a significant boost to India’s manufacturing startup ecosystem, Shree Cement Limited has entered into a strategic partnership with the Department for Promotion of Industry and Internal Trade (DPIIT). The collaboration, formalized through a Memorandum of Understanding (MoU), aims to nurture and support product-based startups, innovators, and entrepreneurs in the manufacturing sector.
The MoU signing ceremony was attended by key officials, including Neeraj Akhoury, Managing Director of Shree Cement, Sumeet Jarangal, Director at DPIIT, and Sanjiv Singh, Joint Secretary at DPIIT. This partnership is a major step towards strengthening India’s manufacturing capabilities and promoting self-reliance through domestic production.
Under the terms of the MoU, Shree Cement will provide a comprehensive support system to selected manufacturing startups, offering them access to:
- State-of-the-art infrastructure and facilities
- Mentorship from industry experts and leaders
- Funding opportunities to scale their operations
- Market linkages to expand their reach and growth
By providing this multi-faceted assistance, Shree Cement aims to guide these startups from prototype development to potential global expansion. The company believes that by empowering startups with the right resources and guidance, it can help build a more robust, competitive, and growth-oriented manufacturing ecosystem in India.
“Our partnership with DPIIT reinforces our commitment to fostering innovation in the manufacturing sector,” said Neeraj Akhoury, Managing Director of Shree Cement. “We believe this collaboration will play a crucial role in promoting self-reliance through domestic manufacturing and import substitution, aligning with the government’s Make in India initiative.”
Sumeet Jarangal, Director at DPIIT, highlighted the significance of this partnership, stating, “The collaboration between Shree Cement and DPIIT lays a strong foundation for early-stage manufacturing startups. It is a significant step towards making India a global manufacturing hub, particularly in the cement sector.”
The MoU underscores the vital role of private sector participation in nurturing the startup ecosystem. By providing access to modern infrastructure, R&D facilities, and specialized mentorship, companies like Shree Cement can help accelerate the growth of emerging businesses. This partnership aligns with DPIIT’s ongoing efforts to create a conducive environment for startups to drive innovation, adopt sustainable practices, and contribute to India’s economic growth.
Conclusion: The strategic partnership between Shree Cement and DPIIT is a game-changer for India’s manufacturing startup landscape. By providing comprehensive support and resources to product-based startups, this collaboration has the potential to unleash a new wave of innovation, job creation, and economic growth. As more such partnerships emerge, India is well-positioned to become a global leader in manufacturing innovation and entrepreneurship.
