DPIIT and Paytm Partner to Boost India’s Startup & Fintech Ecosystem
The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Paytm (One97 Communications Ltd.) to drive innovation and accelerate the growth of manufacturing and fintech startups in India. This collaboration will provide mentorship, infrastructure, market access, and funding opportunities, enabling startups to develop cutting-edge payment and financial technology solutions.
Under this initiative, fintech hardware startups, including makers of Soundbox and PoS/EDC devices, will receive incubation support, investor connections, and regulatory guidance. DPIIT and Paytm will also host industry workshops to help startups navigate compliance challenges and scale their businesses effectively.
The MoU was signed by Dr. Sumeet Kumar Jarangal, Director, DPIIT, and Vijay Shekhar Sharma, Founder & CEO, Paytm, in the presence of senior officials. Sanjiv, Joint Secretary, DPIIT, emphasized that this partnership will strengthen India’s startup ecosystem, while Vijay Shekhar Sharma highlighted the government’s support under Prime Minister Narendra Modi’s leadership, making it an ideal time for entrepreneurs to scale.
Through Paytm for Startups and Paytm Foundation, the company will nurture deep-tech startups in Climate Tech, Web3, Agritech, and Mobility, reinforcing India’s position as a global innovation hub.
Source: PIB
