Govt ropes in Hafele India to boost local startups, MSMEs

THE Centre’s Department for Promotion of Industry and Internal Trade (DPIIT) and Hafele India Pvt Ltd have signed a Memorandum of Understanding to strengthen India’s manufacturing and innovation ecosystem by empowering product startups, MSMEs, and entrepreneurs, according to an official statement issued on Thursday.

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The MoU was signed by DPIIT Director Sumeet Jarangal and Hafele India's Managing Director, South Asia, Frank Schloeder, in the presence of senior officials from both organisations. It will remain in effect for a period of two years from the date of signing, with scope for extension based on mutual agreement.

Under this strategic collaboration, Hafele will drive initiatives that support product innovation, local sourcing, and entrepreneurship through targeted investments, mentorship, and integration into global value chains.