Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT) has signed an MoU with Paytm to drive innovation and scale India's manufacturing and fintech startup ecosystem.

Under this collaboration, Paytm will provide mentorship, infrastructure, market access, and funding opportunities to emerging startups.

The initiative aims to support fintech hardware startups by offering regulatory guidance, compliance assistance, and industry-focused workshops.

Startups will also gain access to Paytm's merchant network for testing and refining their products.

Dr. Sumeet Kumar Jarangal, Director, DPIIT, and Vijay Shekhar Sharma, Founder & CEO, Paytm, signed the agreement in the presence of senior officials.

DPIIT Joint Secretary Sanjiv highlighted the partnership's role in strengthening India's innovation landscape.

Paytm will also launch dedicated programs to support fintech hardware manufacturers and deep-tech startups in areas like Climate Tech and Agritech, reinforcing India's position as a global innovation hub.