Where the Land Meets the Sea

by EconomyMirabilia Icons

As the morning tide gently laps against the shores of Navghar, Vandana Patil steps onto the damp earth of her village’s coastline. She recalls a time when the sea was generous, offering abundant crab and fish catch. But over the years, that generosity faded. “Earlier, we used to see unpredictable crab and fish catch and had to rely on other sources of livelihoods,” she says, her voice carrying the weight of years spent worrying about an uncertain future.

The culprit was clear: the unchecked destruction of mangroves. The towering green guardians of the coastline had been silently disappearing, their roots no longer anchoring the land, their dense canopies no longer sheltering marine life. With every tree lost, so too was a piece of the community’s livelihood. Yet, many in Navghar remained unaware of the deep connection between the mangroves and their survival.

Change arrived in the form of a far-reaching initiative. The Government of India, in collaboration with the Green Climate Fund and UNDP, launched a project to enhance climate resilience in India’s coastal communities. This initiative, operational across three coastal states-Andhra Pradesh, Maharashtra, and Odisha focused on conserving and restoring marine ecosystems, including mangroves, while creating climate-resilient livelihoods.

Navghar became a symbol of this transformation. In 2021, the project formed a Mangrove Co-Management Committee, bringing together village members, the Gram Panchayat, and women’s Self-Help Groups (SHGs). Their mission was twofold: protect the mangroves and revive local livelihoods. Women, often the most affected by economic instability, were placed at the forefront.

Through structured training, they learned sustainable crab farming techniques, creating new livelihood groups like Healthy Harvest and Wild Crab Aqua Farm. These groups now farm mud crabs over two acres of coastal land while ensuring the protection of mangroves from illegal cutting. The impact was immediate.

“Through our campaigns and drives, we have raised awareness about mangroves and their link to healthy fish catch and livelihoods,” explains Rohan Patil, president of the committee. “People no longer see them as just trees—they see them as protectors.”

By 2023, the once-barren coastline had transformed. The mangroves stood tall, shielding the land from erosion and storms, while the waters teemed with life again. The benefits extended beyond the environment. “The project helped us a lot,” Vandana shares. “Earlier, women worked only seasonally. Now, we have employment throughout the year. Besides, earlier we had to travel far and wide for crab farming; now, we can do it locally.”

What is Mangrove?

A mangrove is a salt-tolerant plant community found in tropical and subtropical intertidal regions. These ecosystems thrive in high-rainfall areas (1,000–3,000 mm) with temperatures ranging from 26°C to 35°C. Mangrove species are adapted to survive in waterlogged soils, high salinity, and frequent tidal surges. They serve as crucial biodiversity refuges and act as bio-shields against extreme climatic events. Additionally, rural populations depend on mangroves for biomass-based livelihoods.

India’s Progress in Mangrove Conservation

India has made significant strides in mangrove conservation through a combination of robust regulatory frameworks and targeted promotional initiatives. As per the India State of Forest Report 2023 (ISFR-2023), India’s total mangrove cover stands at 4,991.68 sq. km, constituting 0.15% of the nation’s geographical area. There has been net increase of 363.68 Sq.km (7.86%) in Mangrove cover area of the country in 2023 as compared to 2013 and net increase of 509.68 Sq.km (11.4%) between 2001 and 2023.

West Bengal holds the largest share of the country’s mangrove forests, accounting for 42.45% of the total cover, followed by Gujarat (23.32%) and the Andaman & Nicobar Islands (12.19%). Notably, Gujarat has recorded an impressive increase of 253.06 sq. km in mangrove cover between 2001 and 2023, attributed to large-scale plantations, community participation, and public-private partnerships.

Key Regulatory Measures

India has implemented a series of stringent legal frameworks to ensure mangrove protection:

  • Coastal Regulation Zone (CRZ) Notification, 2019 under the Environment (Protection) Act, 1986, categorises mangroves as Ecologically Sensitive Areas (ESAs), restricting activities within a 50-metre buffer zone where mangrove cover exceeds 1,000 sq. m.
  • Mandates compensatory replantation at a 3:1 ratio if mangroves are affected by development.
  • Additional protection under the Wildlife (Protection) Act, 1972, Indian Forest Act, 1927, and Biological Diversity Act, 2002, among others.

Key Promotional Initiatives and Achievements

Mangrove Initiative for Shoreline Habitats & Tangible Incomes (MISHTI):

  • Launched on 5 June 2023 to promote restoration and afforestation across 540 sq. km in 9 coastal States and 4 Union Territories.
  • Implementation through convergence funding with the National Compensatory Afforestation Fund Management and Planning Authority (CAMPA).
  • For FY 2024–25, ₹17.96 crore has been allocated to Andhra Pradesh, Gujarat, Kerala, Odisha, West Bengal, and Puducherry for the treatment and restoration of 3,836 hectares of degraded mangroves.

National Coastal Mission – Conservation of Mangroves and Coral Reefs:

  • Financial assistance for the conservation of 38 mangrove sites and 4 coral reef sites across the country.
  • Operates on a 60:40 cost-sharing model between the Centre and States.
  • ₹8.58 crore released to seven coastal States during 2021–23 for mangrove conservation.

GCF-ECRICC Project (Green Climate Fund – Enhancing Coastal Resilience of Indian Coastal Community):

  • Active since 2019 in Andhra Pradesh, Maharashtra, and Odisha.
  • Aims to restore and conserve 10,575 hectares of mangroves.
  • As of 2024, 3,114.29 hectares have been successfully restored.

 

 

 

 

Mangroves: Nature’s Carbon Vault

As per World Wildlife Fund mangroves store 7.5–10 times more carbon per acre than tropical forests. Their loss contributes to 10% of global greenhouse gas emissions from deforestation. These coastal forests hold over 21 gigatons of carbon, 87% of which is locked in the soil beneath their roots. Restoring just 1.6 million acres of lost mangrove forests could capture an additional 1 gigaton of carbon.

A Tidal Shift Towards Sustainability

Navghar’s transformation reflects a broader movement sweeping across India’s coastline where communities are not just adapting to change but actively shaping it. The revival of mangroves, once overlooked and degraded, now stands as a testament to collective action and inclusive development.

Through the integration of science, policy, and grassroots participation, India is forging a path where ecological restoration directly uplifts local economies. Women like Vandana Patil are no longer passive witnesses to environmental loss but active custodians of their natural heritage, securing livelihoods while nurturing resilience.

This shift marks more than environmental progress. It signals a future where nature-based solutions become central to climate action and communities, once vulnerable, emerge as champions of sustainable change.

PM Modi And Chilean President Hold Bilateral Talks At Hyderabad House

by EconomyLatest Updates

President Boric. The two leaders discussed ways to further deepen long-standing bilateral ties. Jaishankar later shared his thoughts on X, saying, “Pleased to call on President Gabriel Boric of Chile at the start of his state visit to India. Appreciate his commitment for deepening our long-standing cooperation. Confident that his talks with PM Narendra Modi today will foster new partnerships and greater engagement.”

As part of his visit, President Boric will travel to Mumbai and Bengaluru, where he will engage with political figures, industry leaders, startup entrepreneurs, and technology innovators. These discussions aim to foster collaborations in key sectors between the two nations.

The Ministry of External Affairs (MEA) emphasized that this state visit is an important opportunity for both India and Chile to review their bilateral relations and deliberate on regional and global issues of mutual interest.

“India-Chile relations have traditionally been characterised by warmth, friendship, and a commonality of views on a wide range of issues. Both countries cooperate extensively in multilateral forums and share similar views on climate change, renewable energy, and on the expansion and reforms of the United Nations Security Council (UNSC),” the MEA said.

Inputs from IANS

Towering blaze in Malaysia on Petronas pipeline, 63 sent to hospital

by EconomyLatest Updates

At least 63 people were being treated in hospitals in Malaysia on Tuesday after a major blaze at a gas pipeline operated by state energy firm Petronas, authorities said, with efforts ongoing to control the fire and evacuate residents.

The fire started on Tuesday morning in the town of Puchong in Selangor state on the outskirts of the capital Kuala Lumpur and those taken to hospitals had suffered burns, respiratory problems or other injuries, authorities said.

The pipeline had been isolated, Petronas in a statement said. The fire department said the firm had closed off the valve on the 500 m (1,640 feet) long pipeline and 49 houses in the area had been affected.

The fire started on Tuesday morning with a towering orange blaze on the horizon and a large plume of smoke above, according to early images carried by news outlets and footage shared on social media.

A Reuters journalist located about 5 km (3 miles) away from the blaze said the intensity of the fire had reduced by early afternoon but a flame and billowing smoke could still be seen.

Ambulances were seen rushing towards the area of the fire, which had been sealed off by authorities.

No deaths were reported but the full extent of the injuries or damage so far was not immediately clear. Authorities had earlier said some people trapped in their homes.

Petronas said it was working closely with all relevant parties to ensure the safety of the surrounding community, environment and security of gas supply to the country.

The government set up relief centres at two local mosques, Bernama reported.

India-Thailand Bilateral Trade Ties Set To Strengthen During PM Modi’s Visit

by EconomyLatest Updates

Prime Minister Narendra Modi will visit Thailand from April 3-4 to participate in the 6th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit.

As part of his visit, PM Modi will hold a bilateral meeting with Thai Prime Minister Paetongtarn Shinawatra on April 3. The two leaders are expected to review bilateral cooperation and outline future partnerships between India and Thailand.

“India and Thailand are maritime neighbours with shared civilizational bonds which are underpinned by cultural, linguistic, and religious ties,” the Ministry of External Affairs said in a statement.

Thailand’s investments in India have grown significantly in recent years, with key sectors including infrastructure, real estate, agro-processing, electronics, automotive, food processing, hospitality, and renewable energy.

A major highlight of this economic collaboration came in 2021, when Global Renewable Synergy Co., Ltd. made the largest-ever Thai investment in India’s renewable energy sector, amounting to $453.29 million.

Bilateral trade growth has been supported by initiatives like the Early Harvest Scheme (EHS), covering 83 products under the India-Thailand Comprehensive Economic Cooperation Agreement (CECA), which was implemented in September 2004. Additionally, the ASEAN-India Trade in Goods Agreement (AITIGA) has facilitated increased trade. ASEAN and India are currently reviewing AITIGA to simplify and enhance its trade facilitation for businesses.

According to Thailand’s Ministry of Commerce, bilateral trade between India and Thailand reached $16.04 billion in 2023. Indian exports to Thailand were valued at $5.92 billion, while imports from Thailand to India stood at $10.11 billion.

Among ASEAN nations, Thailand is India’s fourth-largest trading partner, following Singapore, Indonesia, and Malaysia.

Key Indian exports to Thailand include silver bars, gold, machinery and parts, metal scrap and products, chemicals, vegetables, medicinal products, seafood (fresh, chilled, frozen, processed), vehicle parts and accessories, iron, steel, electrical machinery, household appliances, and fabrics.

On the other hand, major imports from Thailand include animal and vegetable fats and oils, chemicals, polymers of ethylene and propylene, precious stones and jewellery, and iron and steel products.

(With IANS inputs)

Sensex Plunges Nearly 2 Percent Amid US Tariff Concerns

by Banking & FinanceEconomyLatest Updates

Indian stock markets plunged on Tuesday, the first trading session of the new financial year, as investors reacted to global trade tensions ahead of the US reciprocal tariff announcement on Wednesday.

The Sensex tumbled 1,390.41 points, or 1.80 percent, closing at 76,024.51, after swinging between an intra-day high of 77,487.05 and a low of 75,912.18. The Nifty 50 also slumped 353.65 points, or 1.50 percent, to settle at 23,165.70, with an intra-day range of 23,565.15 to 23,136.40.

The selloff was broad-based, with most Sensex stocks ending in the red, except Zomato, IndusInd Bank, and State Bank of India (SBI).

Top losers included HCL Technologies, Bajaj Finserv, HDFC Bank, Bajaj Finance, and Infosys, which declined up to 3.66 percent.

Midcap and smallcap stocks also faced pressure. Nifty Midcap100 lost 0.86 percent, while Nifty Smallcap100 dipped 0.70 percent.

The BSE Midcap index dropped 0.9 percent, whereas the Smallcap index edged up 0.2 percent.

Sectorally, IT, real estate, and consumer durables fell nearly 2 percent each, while media, oil & gas, and telecom stocks managed to stay positive.

Investor sentiment turned jittery, with India VIX—known as the fear index—surging 8.37 percent to 13.78, indicating increased market uncertainty.

“Amid heightened global volatility ahead of the anticipated US reciprocal tariff announcement tomorrow (US time), the domestic market witnessed a significant sell-off today. Investors are eagerly awaiting the specifics of these tariffs while also keeping a close eye on ongoing negotiations for a potential Indo-US trade agreement,” said Vinod Nair, Head of Research, Geojit Investments Limited.

The IT sector bore the brunt of the selloff due to its heavy exposure to the US market, while real estate stocks tumbled after Maharashtra raised ready reckoner rates, impacting property valuations.

Shri Ajay Bhadoo Appointed as CEO of Government e Marketplace

by with No Comment EconomyMirabilia Icons

The Government of India has appointed Additional Secretary in the Department of Commerce Shri Ajay Bhadoo, as the Chief Executive Officer (CEO) of Government e Marketplace (GeM). He will assume this role in addition to his existing responsibilities in the Department of Commerce.

His appointment as CEO of GeM, India’s largest e-marketplace for government procurement, comes at a pivotal time as the platform transitions to a next-generation digital marketplace powered by Tata Consultancy Services (TCS). Currently, GeM has recorded a Gross Merchandise Value (GMV) of ₹4.58 lakh crore, reflecting a 28.65% year-on-year growth.

An Indian Administrative Service (IAS) officer of the 1999 batch from the Gujarat cadre, Shri Bhadoo brings over two decades of experience in policy formulation and implementation across diverse sectors, including urban infrastructure development.

In August 2024, Shri Bhadoo was appointed as Additional Secretary in the Department of Commerce. Previously, he served as the Deputy Election Commissioner at the Election Commission of India. His extensive career also includes a tenure as Joint Secretary to the former President of India, Shri Ram Nath Kovind, and leadership roles such as CEO of the Gujarat Maritime Board and Commissioner of Rajkot and Vadodara Municipal Corporations. Shri Bhadoo holds a degree in Civil Engineering and a Master’s in Business Law from the prestigious National Law School of India University, Bengaluru

Union Minister of Commerce & Industry Shri Piyush Goyal emphasises mutual funds industry’s role in India’s growth at AMFI Summit 2025

by Banking & FinanceEconomyLatest Updates

The mutual funds industry has played a pivotal role in India’s growth story by encouraging financial literacy and taking innovative financial ideas to the industry and the investors. This was stated by Union Minister of Commerce & Industry Shri Piyush Goyal during his address as a Chief Guest at the Association of Mutual Funds in India (AMFI) Mutual Fund Summit 2025 today in Mumbai.

The Minister further complimented the domestic investors for filling the gap created by the foreign institutional investors (FIIs) post-Covid. “Collective investment methods like SIPs along with domestic investors supported the market. They helped in spreading financial awareness and financial products to every part of the country, he said.

Highlighting the importance of safeguarding the importance of small investors and other key stakeholders, Shri Goyal urged the industry leaders to reflect on ways to minimise volatility in the stock market. Large fund inflows, compulsions of the market to deploy capital, fear among investors on missing out on attractive stocks brought crises among investors during rightsizing. There has been a lot of misinformation flow about the unending ability of the market to go on a one-way street, he noted, and described the unpredictability of the stock market as a wakeup call for the industry and its small investors.

AMFI should also become conscious of its duties by isolating misguided investors from the rest. Companies with mettle have maintained reasonable prices at the stock market during recent turbulence, he noted. He said that duties and responsibilities of the industry towards the market are larger than the profitable returns investors enjoy in the short term. He also added that government spending and private capex are showing signs of comeback.

Elaborating on the responsibilities of the mutual funds industry towards its investors, the Minister urged the participants to be more diligent in cautioning investors from taking risks. He hoped that initiatives as such will spur India’s growth story for the next 22 years. Shri Goyal urged the industry to support and handhold investors, look at financial inclusion as a collective responsibility and take up financial education as its duty.

Shri Goyal asserted that assets under management (AUM) in the mutual funds industry at nearly Rs 70 lakh crore and soon to be Rs 100 lakh crore will dominate the market and domestic investors will determine India’s future not the foreign institutional investors. He also highlighted the need for the industry as wealth creators to have a fair and organised market.

NCL Turns Homemakers to First-responders: Over 8,000 Homemakers to Turn into First Aiders by June 2025

by EconomyLatest Updates

In a landmark initiative, Northern Coalfields Limited (NCL), a subsidiary of Coal India Limited known for its highly mechanized mines and critical role in ensuring the Nation’s energy security, has launched the ‘First Aid Training Program for Homemakers’ on a large scale. By extending awareness about first aid beyond the workplace and into the homes of its workforce, NCL is fostering a primary-care-conscious community and reinforcing a culture of preparedness. This initiative aims to cover 8,000 homemakers of NCL Family by June 2025.

Launched on 26th January 2025, the First Aid Training Program for Homemakers, in just one month, has successfully trained about 1,500 homemakers in different sessions held at all Projects. The turning of NCL’s Homemakers into First-Aid bolsters the welfare and wellness of their families and, at the same time reduces the burden on medicos.

Since Housewives are often the first responders to medical emergencies at home, the training program is designed to give them the knowledge and confidence to act promptly and effectively in critical situations. The program emphasizes practical skills and awareness, ensuring participants can apply first aid measures in real-life scenarios.

One of the largest community first-aid drives ever undertaken, this initiative holds particular significance in the coal mining region where healthcare and well-being are of paramount importance.

The program aims to train housewives with practical knowledge to manage common medical situations, including burns, cuts, choking, poisoning, minor injuries, heat-related ailments, and even cardiopulmonary resuscitation (CPR). Conducted by NCL’s in-house medical professionals, the training enhances the confidence and competence of participants, enabling them to provide timely medical care.

NCL’s commitment to community welfare and women-led development is evident through this large-scale initiative. By empowering homemakers, NCL is not only addressing a critical first assistance need but also championing women’s empowerment in Singrauli region.

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Sarbananda Sonowal unveils ₹4,800 crore plan to transform Assam’s Inland Waterways at Advantage Assam 2.0

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The Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal announced an investment of more than ₹4,800 crore to transform the inland waterways sector of Assam at the Advantage Assam 2.0 in Guwahati, today. The investment is to enable the immense potential that the complex and dynamic waterways system of the state has to offer to propel the growth and development of the region towards realising the vision of Prime Minister Shri Narendra Modi’s Viksit Bharat, Shri Sonowal asserted at the session on Assam’s Roads, Railway and Riverine Tourism on the second day of the investment summit.

Speaking on the occasion, the Union Minister said, “Under the dynamic leadership of Prime Minister Shri Narendra Modi ji, the country is cruising ahead towards realising the vision of Viksit Bharat. Assam along with the Northeast plays an integral part in propelling this journey to realise the vision of Modi ji. Inland Waterways plays a crucial role in this scheme of things as the visionary Modi ji planned its revival since 2014 from near obscurity and neglect of the past. With its rich inter web of riverine system in the region, especially in Assam with Brahmaputra (NW2) and Barak (NW16), the inland waterways aims at rejuvenating its ageless role as the main conduit of trade and commerce. Globally considered as futuristic, the inland waterways provides an opportunity to opt for a more economic, efficient and environment friendly mode of transporting cargo and passengers. With the launch of schemes like ‘Jalvahak’, the Modi government has been incentivising the businesses to switch to inland waterways, thereby, improving the economies of scale, decongesting the railways and roadways and enabling a conducive ecosystem that is vital for pivotal role Assam is set to play towards India’s ascendency to become world’s biggest and an Atmanirbhar economy by 2047.”

 

At the summit, Shri Sarbananda Sonowal announced allocation of ₹1,500 crore for a planned transition into Green Vessels by 2030 under the ‘Harit Nauka’ scheme. An amount of more than ₹1,500 crore has been earmarked to facilitate cruise tourism and enhance cargo handling capacity by 2027-28 in NW2 and NW16. This includes construction of jetties with on shore facilities at Silghat, Bishwanath ghat, Neamati Ghat and Guijan along with construction of a new building for Regional Office, MSDC, Guest house and office space for ITAT at Fancy Bazar in Guwahati. An amount of ₹375 crore is pegged for development of Phase II of Ship Repair Facility at Pandu. In order to maintain fairway, the government has entrusted Dredging Corporation of India (DCI) to ensure assured draft of 2.5 meters from Bangladesh Border to Pandu in NW-2 till 2026-27. An amount of ₹191 crore has been earmarked for this, Shri Sonowal stated.

Adding further, he said, “Advantage Assam has always served as a catalyst for the region’s economic revival, providing businesses with a strategic platform to expand their trade and investment opportunities. With the immense support that Assam has received from our Hon’ble Prime Minister Shri Narendra Modi ji, we remain firmly committed to the holistic development of the economy of Assam and the Northeast. Among the various ongoing projects to enable inland waterways of Assam, we are also planning to transform the conventional vessels into Green Vessels under Harit Nauka scheme. This affirms the commitment of our government towards sustainable development, a milestone set by our dynamic leader Narendra Modi ji. Given the immense potential of riverine tourism in the state, we are developing an ecosystem including infrastructure and fairway for smooth, regular and viable operations. You may be happy to know that the Dredging Corporation of India (DCI), with its rich experience of dredging at the sea, has been entrusted with dredging the NW2, for the first time on any river in India.”

 

The Union Minister also announced the development of Water Metro Service in Guwahati and Dhubri for an estimated investment of ₹315 crore. Based on the success of Kochi Metro Service, the feasibility study is being conducted for this. Shri Sarbananda Sonowal also announced deployment of two Electric Catamarans being built by Cochin Shipyard Limited (CSL). A world class cruise terminal will also be built in Guwahati with an estimated investment of ₹100 crore.

In Dibrugarh, an estimated ₹120 crore has been earmarked for development of Regional Centre of Excellence (RCOE). Adding further to the capital development along the NW2, Riverine Lighthouses will be built at FIVE places — Bogibeel, Biswanath, Nimati, Pandu and Silghat — at an estimated cost of ₹100 crore. In addition, a sum of ₹150 crore has been earmarked for fairway development with LAD of 2.5 meters between Pandu and Bogibeel. TWO Cutter Section Dredger units will also be purchased for Brahmaputra (NW2).

The Inland Waterways Authority of India (IWAI), the nodal agency for the riverine transportation including national waterways under the Ministry of Ports, Shipping and Waterways (MoPSW), is implementing projects worth ₹1,010 crore along river Brahmaputra (NW2) and river Barak (NW16) in Assam. Among the major projects, the ship repair facility is being built at Panda with an investment of ₹208 crore while an alternate road from Pandu to NH27 is being built at an investment of ₹180 crore. New Inland Waterways Terminal (IWT) at Bogibeel as well as at Jogighopa —- with more than ₹66 crore and ₹82 crore of investment —- are being developed on Brahmaputra to ‘enable possibilities meet opportunities’, Shri Sonowal added.

An investment of more than ₹646 crore has been earmarked to construct riverine infrastructure across Brahmaputra under the Sagarmala Scheme, the flagship programme of the Ministry of Ports, Shipping and Waterways. For Barak River, the Union Minister announced procurement of Survey Vessel, procurement of THREE Amphibian Dredgers, construction of Crane Pontoon and Gangway for proving Floating Terminal facilities in Karimganj, construction of Steel Pontoon and Gangway for providing Floating Terminal facilities at Badarpur among other projects.

At this session, the Union Minister was joined by the Chief Minister of Assam, Dr Himanta Biswa Sarma; Minister of Animal Husbandry, Veterinary, Fishery and PWRD, Govt of Assam, Krishnendu Paul; Chairman of IWAI, Vijay Kumar; High Commissioner of Singapore, His Excellency Simon Wong among other officials and corporate leaders from infra, railways and marine sector.

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DPIIT and Paytm join hands to drive innovation and scale India’s manufacturing & fintech startup ecosystem

by EconomyLatest Updates

The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, has signed a Memorandum of Understanding (MoU) with Paytm (One97 Communications Limited) to foster innovation and accelerate the growth of manufacturing and fintech startups in India.

As part of this collaboration, Paytm will provide mentorship, infrastructure support, market access, and funding opportunities to startups, helping them scale and innovate. This initiative aims to equip entrepreneurs with essential resources, enhancing their ability to develop cutting-edge payment and financial technology solutions.

According to DPIIT, the partnership aims to support fintech hardware startups through mentorship and innovation guidance, helping them develop and scale payment and financial technology solutions. It also focuses on regulatory and compliance assistance by organizing workshops and providing guidance in collaboration with industry and government bodies. Additionally, the partnership offers infrastructure and market access support, enabling startups to test, validate, and refine their products while leveraging Paytm’s extensive merchant network.

The MoU was signed by Dr. Sumeet Kumar Jarangal, Director, DPIIT, and Vijay Shekhar Sharma, Founder & CEO, Paytm, in the presence of senior officials from both organizations.

Mr. Sanjiv, Joint Secretary, DPIIT, emphasized the significance of this collaboration, stating, “This partnership with Paytm marks a crucial step in strengthening India’s startup ecosystem. 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.”

Vijay Shekhar Sharma, Founder & CEO, Paytm, remarked, “Under Prime Minister Narendra Modi’s leadership, this is the best time for startups to launch and scale. Paytm is committed to empowering entrepreneurs through mentorship, financial support, and access to cutting-edge technology. Through this collaboration, we will ensure that startups receive the necessary tools to succeed from inception to growth.”

With this collaboration, DPIIT and Paytm reaffirm their commitment to positioning India as a global innovation hub, fostering technological advancements, and driving economic growth.