Govt Ropes In Hafele India To Boost Local Startups, Msmes

(MENAFN- IANS) New Delhi, May 8 (IANS) 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.

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.

The partnership reflects a shared commitment to build resilient local supply chains and accelerate India's vision of becoming a global manufacturing hub, the statement said.

Hafele will expand its support to startups and MSMEs by offering access to infrastructure, supplier development opportunities, technical collaboration, and market access. The German company has already committed over $2.5 million in Indian appliance manufacturing startups and has extended purchase orders to Indian MSME manufacturers of architectural hardware and furniture fittings. DPIIT will facilitate the ecosystem access through Startup India, enabling startup connections, programme participation, and co-branding.

DPIIT Joint Secretary Sanjiv said: "The partnership with Hafele India exemplifies our approach to foster collaborative industrial ecosystems. It brings together global best practices and local entrepreneurial energy to drive sustainable manufacturing growth aligned with the Make in India vision."

Hafele's Managing Director, South Asia, Schloeder, added: "At Hafele, we believe that India's innovation and manufacturing potential is unmatched. Through this MoU, we are excited to deepen our engagement with Indian entrepreneurs and startups and work together toward the vision of 'India for India' today and 'India for the World' tomorrow."

Hafele India Pvt. Ltd. has been actively involved in the Indian market, focusing on furniture and kitchen fittings, and expanding into appliances. CRISIL Ratings has reaffirmed Hafele India's ratings, reflecting the company's growth in the furniture and fittings segment. The company also aims to increase sourcing from India, with a target of 30 per cent by December 2025,

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