SDG 8: Decent Work & Economic Growth | SDG 9: Industry, Innovation & Infrastructure
Institutions: Ministry of Commerce & Industry
The Department for Promotion of Industry and Internal Trade (DPIIT) has signed two key Memoranda of Understanding (MoUs) on 23 October 2025 aimed at bolstering India’s startup and innovation ecosystem.
The first MoU, with Kotak Mahindra Bank, will provide customised banking and fintech services for recognised startups, including zero-balance current accounts, working capital/term loans, API-based platforms, digital payment solutions and startup cards, alongside mentorship and networking support.
The second MoU, with Primus Partners Pvt Ltd, aims at structured capacity-building interventions, expert mentorship, market access initiatives and tech integration for early and growth-stage product startups.
Combined, these agreements reflect DPIIT’s policy direction to merge financial, technical and institutional support for startups, reinforcing its objective of a self-reliant, innovation-driven economy and positioning India as a global startup hub.
By facilitating comprehensive support structures for startups, this initiative strengthens access to finance, market linkages and institutional frameworks that are critical for scaling ventures and generating employment. It aligns with India’s broader industrial and self-reliance agenda by emphasising product-driven startups and high-value innovation rather than simply services scaling.
What is DPIIT? → The DPIIT is the nodal department under the Ministry of Commerce & Industry responsible for industrial policy, promotion of internal trade and development of the startup ecosystem in India.
Relevant Question for Policy Stakeholders
How will DPIIT measure and ensure that these MoUs translate into real outcomes, e.g., number of startups funded, jobs created, scale-ups beyond seed stage, and what governance framework will monitor progress and accountability?
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