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India’s Department for Promotion of Industry and Internal Trade (DPIIT) has signed a memorandum of understanding with Indian fintech giant Paytm in a bid to bolster innovation and scale start-ups in the fintech and manufacturing sectors.
Paytm, operated by One97 Communications Limited, is one of India’s leading digital payments and financial services platforms.
Under the partnership, the company will offer mentorship, funding opportunities, infrastructure support and market access to startups, particularly those involved in manufacturing fintech hardware such as payment terminals and soundboxes.
The initiative will also provide regulatory guidance through workshops in collaboration with industry and government bodies, helping startups navigate compliance challenges.
Through its Paytm for Startups programme, the company will connect entrepreneurs with investors and incubation initiatives, while its CSR arm, Paytm Foundation, will support deep-tech ventures in areas such as climate tech.
Shri Sanjiv, joint secretary of DPIIT, welcomed the move. “This partnership with Paytm marks a crucial step in strengthening India’s startup ecosystem,” he said.
“By leveraging Paytm’s fintech expertise and infrastructure, we aim to support entrepreneurs in overcoming challenges, scaling their ventures, and contributing to India’s emergence as a global innovation hub.”
