The Department for Promotion of Industry and Internal Trade (DPIIT) has signed an MoU with Paytm to foster innovation and accelerate the growth of manufacturing and fintech startups in the country. The Commerce and Industry Ministry said the partnership aims to support fintech hardware startups through mentorship and innovation guidance, helping them develop and scale payment and financial technology solutions. It also focuses on regulatory and compliance assistance by organizing workshops and providing guidance in collaboration with industry and government bodies.
Speaking on the occasion, Joint Secretary, DPIIT, Sanjiv said that this partnership marks a crucial step in strengthening India’s startup ecosystem.