In a move aimed at strengthening India’s manufacturing ecosystem, Shree Cement Ltd has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry. The partnership is set to empower product startups, innovators, and entrepreneurs, providing them with essential infrastructure, mentorship, and access to funding, all the way from prototype development to potential international expansion.
Commenting on the partnership, Neeraj Akhoury, Managing Director, Shree Cement Ltd stated, “Our partnership with DPIIT reinforces our commitment to fostering innovation in the manufacturing sector. We believe this partnership will play an important role in promoting self-reliance through domestic manufacturing and import substitution. By empowering start-ups, we aim to create a stronger, more competitive ecosystem that drives economic growth and progress in India.”
Sumeet Jarangal, Director, DPIIT also emphasized the importance of the collaboration, noting, “This partnership between Shree Cement and DPIIT will lay the foundation for a brighter future for early-stage manufacturing startups and is a strong step in making India a manufacturing hub in the cement sector. We look forward to working with Shree Cement in the coming years.”
This MoU highlights the crucial role of the private sector in supporting the growth of startups by offering modern infrastructure, research and development facilities, and tailored mentorship. It further reflects a shared vision between Shree Cement and DPIIT to promote innovation and sustainable practices in India’s manufacturing industry. As the country continues its journey towards becoming a global leader in manufacturing, collaborations like this are pivotal in shaping a robust ecosystem that drives growth, innovation, and global competitiveness.