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In a significant stride towards fostering digital innovation within in the Fast-Moving Consumer Goods (FMCG) sector, the Technology Development Board (TDB) has joined hands with a Delhi-based company in a strategic agreement. Under this collaboration, TDB has approved a Conditional Grant of ₹1.22 crores (approximately US$162,000) to support its groundbreaking project titled “Digital Financial Solutions for Last Mile FMCG Value Chains in Emerging Markets”.
The initiative has been facilitated through the ‘INDIA-ISRAEL INDUSTRIAL R&D AND TECHNOLOGICAL INNOVATION FUND (I4F)’. Spearheaded by a company from Israel, the project sets out to revolutionise last-mile FMCG value chains in emerging markets through the implementation of cutting-edge digital finance solutions.
This partnership underscores the robust technological cooperation between India and Israel, highlighting their joint commitment to driving innovation in industrial research and development.
At its core, the project focuses on developing an integrated digital finance platform tailored specifically for last-mile FMCG value chains. Leveraging the Delhi company’s expertise in human-centred design, the project places a strong emphasis on enhancing user experience and ensuring alignment with diverse consumer needs. With a prestigious client portfolio that includes industry giants, the company brings invaluable insight and innovation to the project.
Upon completion, the platform is poised to seamlessly embed financial services across FMCG value chains, with particular attention to enhancing last-mile distribution networks. Drawing from the Delhi company’s extensive experience in managing branchless banking networks and B2B commerce platforms, the project aims to empower businesses and consumers alike, driving financial inclusion and fostering sustainable economic growth in emerging markets.
Speaking on the significance of this partnership, the Secretary of the Technology Development Board, stressed its pivotal role in addressing real-world challenges through innovation-driven solutions. As the inaugural agreement signed under the Bilateral India-Israel call, the initiative lays the groundwork for future collaborations.
Moreover, it signifies a commitment to transformative agreements that will drive progress and innovation in the near future. This partnership stands as evidence of technological advancement and cooperation between India and Israel, poised to deliver tangible benefits to both nations and beyond.
India is recognised as a burgeoning powerhouse in the global technology and digital space, with a commitment to innovation and leadership that extends beyond its borders. As the world witnesses an increasingly interconnected digital landscape, India is keen to leverage its expertise and resources to collaborate internationally.
OpenGov Asia highlighted the Indo-French Joint Committee of Science and Technology’s (JCST) recent meeting, emphasizing the efficacy of the Indo-French Centre for the Promotion of Advanced Research (CEFIPRA) in boosting collaboration. Talks centred on advancing research in key areas such as Interdisciplinary Cyber-Physical Systems (ICPS), health, clean energy, artificial intelligence (AI), quantum technologies, and advanced materials.
Emphasising the significance of fostering connections among innovators and entrepreneurs from both nations, the meeting underscored the importance of leveraging collaborative efforts for mutual benefit. Dr Claire Giry, Director General for Research and Innovation at the French Ministry of Higher Education and Research echoed these sentiments, stressing the need to reinforce ties between researchers from India and France, with a specific focus on sustainable technologies, applied mathematics, health, and ocean research.
With a commitment to inclusive and sustainable development, India’s endeavours in the tech and digital space aim not only to drive economic growth but also to empower communities worldwide, cementing its position as a beacon of technological leadership and cooperation on the international stage.
Through partnerships, knowledge exchange, and collaborative initiatives, India seeks to not only showcase its technological prowess but also to extend a helping hand internationally. By fostering innovation, promoting digital inclusion, and championing technological solutions to global challenges, India aims to demonstrate leadership in the tech arena while making meaningful contributions to the international community.
