The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with boAt, an Indian private company in audio and wearables market to help startups. The DPIIT and boAt collaboration aims to foster innovation and provide tailored support to DPIIT recognised Startups including startups in D2C and manufacturing domains.
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| DPIIT, boAt sign MoU to help Startups |
DPIIT, boAt sign MoU to help Startups
The Department for Promotion of Industry and Internal Trade (DPIIT) and boAt, an Indian company in audio and wearables market has signed a strategic Memorandum of Understanding (MoU) to help startups.
Read Also: Amardeep Singh Bhatia Appointed As Secretary, DPIIT
DPIIT, boAt MoU: Aims
The MoU between DPIIT and BoT aims to promote innovation and provide tailored support to DPIIT recognised startups, including D2C and manufacturing domains.
DPIIT, boAt MoU: Key Features
The key features of DPIIT and boAt mutual partnership include: curate dedicated program(s)/ initiative(s) for mentoring startups, innovators and entrepreneurs, provide resources, guidance, and support for different milestones such as prototype development, and offer connections and insights for international expansion, wherever applicable and feasible.
Read Also: DPIIT signs MoU with HDFC Bank to Empower Startups
Department for Promotion of Industry and Internal Trade (DPIIT)
The Department for Promotion of Industry and Internal Trade (DPIIT) was established in the year 1995 and was reconstituted in the year 2000 with the merger of the Department of Industrial Development. The department was earlier called Department of Industrial Policy & Promotion and was renamed as DPIIT in January, 2019.
Role Of DPIIT
The role of DPIIT is to promote Industrial Development of the Country by facilitating investment in new and upcoming technology, accelerate & foreign direct investment and support a balanced development of industries & trade.
Static Current Affairs related to DPIIT for upcoming exams
- Full form of DPIIT: Department for Promotion of Industry and Internal Trade
- Minister responsible: Piyush Goyal, Minister of Commerce and Industry
- Secretary: Amardeep Singh Bhatia
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