New Delhi [India], May 30 (ANI): Maruti Suzuki India Limited has signed a memorandum of understanding (MoU) with the Japan External Trade Organisation (JETRO), to promote innovation and facilitate business opportunities for startups from India and Japan.

According to Maruti Suzuki, the MoU was formally exchanged between Dr Tapan Sahoo, Executive Officer, Digital Enterprise, Maruti Suzuki and Takashi Suzuki, Chief Director General, JETRO India in the presence of Hisashi Takeuchi, Managing Director and CEO, Maruti Suzuki.

Under the MoU, Maruti Suzuki and JETRO will collaborate to support startups based in India to access the startup and innovation ecosystem of Japan, similarly, startups based in Japan will get an opportunity to access the startup and innovation ecosystem of India.

In addition, Maruti Suzuki and JETRO will work with each other to facilitate the participation and networking of startups in appropriate activities or events, connecting them with relevant partners.

Startups chosen through Maruti Suzuki's four innovation programs- accelerator, incubation, mobility challenge and nurture- will be eligible to participate in these events.

Startups from Japan can explore the Indian startup ecosystem by participating through JETRO. Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited, said, 'Startups are key drivers of innovation and economic growth. Through our multi-format innovation programs, we have been engaging with startups in India to co-create technology-driven solutions relevant to the automobile manufacturing and mobility space.'

He added, 'We see great potential in Indian startups, and with this MoU with JETRO, we will be able to provide a platform for these promising startups to explore the Japanese business landscape.'

Takashi Suzuki, Chief Director General, JETRO India, said, 'Maruti Suzuki stands as one of the finest examples of the successful partnership between India and Japan. With this MoU, we are creating opportunities for even more fruitful business collaborations between our two nations. This MoU aims to foster innovation, drive economic growth, and further strengthen the deep-rooted ties between India and Japan.' (ANI)