PhonePe Partners with DPIIT to Empower Emerging Indian Startups

National, August 21st, 2026: PhonePe, today announced a strategic partnership with the Department for Promotion of Industry & Internal Trade (DPIIT), signing a two-year Memorandum of Understanding (MoU), to accelerate the growth of early-stage and high-growth ventures across the country.

Aligning directly with key national vision initiatives - including Startup India, Digital India, and Atmanirbhar Bharat,  the collaboration aims to democratize access to digital payment infrastructure, technology platforms, and essential scale-up capabilities for DPIIT-recognized startups. By removing technology entry barriers, expanding market access, and equipping emerging merchants with digital tools, the partnership seeks to strengthen India’s broader startup and MSME ecosystem.

Through this initiative, PhonePe aims to address several critical operational hurdles faced by early-stage businesses:

• Distribution & Cost Overhead: Resolves initial setup costs via commission-free app delivery channels and preferential processing terms for PhonePe’s Payment Gateway.

• Onboarding & Operations: Eliminates administrative delays by delivering guaranteed priority onboarding with quick turnaround times.

• App distribution: Enables app-based startups to leverage Indus Appstore for app listing, distribution, and enhanced visibility.

• Mentorship & Capability-Building: Fills vital knowledge gaps through founder mentorship via the Government’s MAARG portal, quarterly GTM Masterclasses covering scale-up execution and financial management, and promotional ad showcases for top startups.

Speaking on the partnership, Deep Agrawal, Head of Payments at PhonePe, said “At PhonePe, we believe that empowering India's startup ecosystem requires more than just capital - it demands world-class technology, seamless distribution, and active mentorship. Partnering with DPIIT allows us to bridge the digital divide for emerging entrepreneurs by offering direct access to our core payment infrastructure, distribution channels, and hands-on guidance. Together, we are building a robust foundation that will accelerate innovation, scale local solutions, and power the next decade of India’s digital growth.”

Ateesh Kumar Singh, Additional Secretary at DPIIT added, “Our collaboration with PhonePe reinforces DPIIT’s commitment to building a resilient, self-reliant startup ecosystem. By providing young companies with scalable payment infrastructure, app distribution, and structured mentorship, this initiative will significantly enable businesses to scale rapidly while strengthening the broader startup and MSME ecosystem.”

About PhonePe

PhonePe Limited (Formerly PhonePe Private Limited) is a technology company that builds digital platforms for Payments, Digital Distribution Services and Financial Services. Headquartered in India, the PhonePe digital payments app was launched in 2016. As of July 2026, PhonePe has 71.8 Crore life-till-date registered users and a digital payments acceptance network spread across over 5 Crore merchants.

PhonePe’s products and services include Consumer Payments (including Digital Distribution Services), Merchant Payments, Lending and Insurance Distribution services, and New Platforms, which comprise Share.Market (stock broking and mutual funds distribution platform), and Indus Appstore (Android-based mobile app marketplace).

For more details, contact: [email protected]

About DPIIT:

The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department operating under the Ministry of Commerce and Industry, Government of India. Established to facilitate and catalyze progressive industrial and internal trade growth, DPIIT formulates and implements policies for industrial development, promotes foreign direct investment (FDI), fast-tracks ease of doing business, and administers intellectual property rights. The department also serves as the nodal agency for major national initiatives like Startup India, driving an inclusive ecosystem for innovation, entrepreneurship, and sustainable industrial advancement across the country.