Mercedes-Benz India has entered into a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT), part of the Ministry of Commerce and Industry, Government of India, aimed at fostering innovation, sustainability, and entrepreneurship in the country's startup ecosystem.
In this collaboration, Mercedes-Benz India will offer startups, innovators, and entrepreneurs infrastructure, mentorship, funding opportunities, and resources to grow in global markets. The initiative corresponds with India's wider development objectives, emphasizing road safety, environmental sustainability, and social advancement.
The collaboration will utilize the Startup India initiative to enhance the program's reach and visibility, fostering increased participation from startups. Through this initiative, Mercedes-Benz India seeks to promote technological and economic development while reinforcing the entrepreneurial ecosystem.
The Department for Promotion of Industry and Internal Trade (DPIIT) operates under the Ministry of Commerce and Industry, Government of India, and is responsible for creating and executing policies concerning industrial advancement, foreign direct investment (FDI), intellectual property rights, and the general business regulatory environment in the country.
DPIIT is instrumental in enhancing the ease of doing business by simplifying regulations and creating a supportive environment for industries and startups. It oversees significant programs like Startup India, which supports entrepreneurs via funding, guidance, and policy measures. Moreover, it oversees Make in India, a program designed to enhance local manufacturing and draw foreign investments.
The department is additionally engaged in developing industrial policies, which encompass the encouragement of sustainable business practices and industries driven by innovation. It oversees Foreign Direct Investment (FDI) policies, guaranteeing transparency and facilitating investment for global companies across different sectors.
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