DPIIT and Hafele India signs MoU to boost manufacturing startup and local sourcing

New Delhi [India] May 8 (ANI): The Department for Promotion of Industry and Internal Trade (DPIIT) and Hafele India Pvt. Ltd signed a Memorandum of Understanding (MoU), aimed to significantly strengthening India's manufacturing and innovation ecosystem, the Ministry of Commerce & Industry said in a press release.

"The partnership reflects a shared commitment to building resilient local supply chains and accelerating India's vision of becoming a global manufacturing hub," the ministry added.

In this partnership Hafele will lend its support to startups and Micro, Small, and Medium
(MSMEs), providing easy access to infrastructure, supplier development opportunities, technical collaboration, and market.

"Hafele has already committed over USD 2.5 million in an Indian appliance manufacturing startup and has extended purchase orders to Indian MSME manufacturers of architectural hardware and furniture fittings. DPIIT will facilitate ecosystem access through Startup India, enabling startup connections, program participation, and co-branding," the release said.

Shri Sanjiv, Joint Secretary, DPIIT, emphasized the significance of the partnership, stating, "the partnership with Hafele India exemplifies our approach of fostering collaborative industrial ecosystems. It brings together global best practices and local entrepreneurial energy to drive sustainable manufacturing growth aligned with the Make in India vision."

Sumeet Jarangal and Frank Schloeder, Managing Director - South Asia, Hafele India signed he MoU in the presence of senior officials from both organizations and "it will remain in effect for period of two years from the date of signing, with scope for extension based on mutual agreement."

"At Hafele, we believe that India's innovation and manufacturing potential is unmatched. Through this MoU, we are excited to deepen our engagement with Indian entrepreneurs and startups and work together toward the vision of 'India for India' today and 'India for the World' tomorrow." said Frank Schloeder.

Recently, WAVEX 2025, the flagship startup initiative under the World Audio-Visual Entertainment Summit (WAVES) being held in Mumbai, is a promising intersection of innovation, entrepreneurship, and investment. (ANI)