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DPIIT and Paytm Sign MoU to Boost India's Manufacturing and Fintech Startups.

MOUs and Agreement | Dated: 28 Feb 2025

On February 26, 2025, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Government of India (GoI) and headquartered in New Delhi, signed a Memorandum of Understanding (MoU) with Paytm (Pay Through Mobile), owned by Uttar Pradesh-based One97 Communications Limited, to promote innovation and accelerate the growth of fintech and manufacturing startups in India.

🎯 Key Highlights:

  • - The MoU was signed by Dr. Sumeet Kumar Jarangal, Director, DPIIT, and Vijay Shekhar Sharma, Founder and Chief Executive Officer (CEO) of Paytm, in the presence of senior officials from both organizations.

💡 Other Important Facts:

  • (i) The partnership aims to assist fintech hardware entrepreneurs in developing and scaling payment and financial technology solutions by providing innovation guidance, mentorship, and regulatory and compliance support through workshops and collaboration with industry and government entities.
  • (ii) The agreement provides infrastructure and market access support, enabling businesses to test, validate, and enhance their products while leveraging Paytm’s vast merchant network.
  • (iii) Additionally, through its Corporate Social Responsibility (CSR) arm, Paytm Foundation, the initiative will support deep-tech startups in Climate Tech, Web3, Agritech, and Mobility.

📚 Test Your Knowledge:

Which government body recently signed an MoU with Paytm to promote innovation in fintech and manufacturing?

Correct Answer: DPIIT

🚀 Quick Recap: