To promote innovation and entrepreneurship in the real estate and technology sectors, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has signed a Memorandum of Understanding (MoU) with HDFC Capital Advisors Limited. The MoU, signed on July 31, 2025, aims to boost startup activity and innovation in the affordable housing and PropTech domains, contributing to the broader national goals of Atmanirbhar Bharat and Viksit Bharat@2047.
This strategic partnership underlines DPIIT’s ongoing commitment to nurturing an inclusive and innovation-driven startup ecosystem. By engaging with key industry players, DPIIT seeks to unlock new growth opportunities, improve access to affordable housing solutions, and modernise India’s real estate development processes through the integration of cutting-edge technology.
A key component of this collaboration is the H@ART Programme (HDFC Affordable Real Estate and Technology Programme), launched by HDFC Capital Advisors. The programme is designed to enhance operational efficiencies and reduce costs across the residential real estate lifecycle. It aims to connect startups with the affordable housing ecosystem, facilitate strategic investments in emerging PropTech ventures, and provide mentorship through partnerships with accelerators, academic institutions, and investors.
Speaking on the occasion, Shri Sanjiv, Joint Secretary, DPIIT, emphasised the importance of engaging with industry leaders to scale innovation in India’s rapidly evolving startup landscape. “Collaborations like this are key to unlocking the full potential of our entrepreneurial ecosystem. They allow for real-world implementation of transformative solutions that benefit society at large,” he noted.
Echoing this sentiment, Vipul Roongta, Managing Director and CEO of HDFC Capital Advisors Limited, highlighted the company’s vision to be a catalyst in India’s startup journey. “The Indian startup ecosystem has made remarkable strides. At HDFC Capital, we are committed to accelerating innovation in affordable housing and PropTech, which are essential to India’s long-term development goals,” he said.
The MoU was formally signed by Mohammad Isharar Ali, Director, DPIIT, and Vipul Roongta, in the presence of senior officials from both organisations. This initiative marks another milestone in DPIIT’s continuous efforts to catalyse public-private partnerships, aimed at building a resilient, self-reliant, and future-ready innovation ecosystem.
With this collaboration, both DPIIT and HDFC Capital aim to foster a robust pipeline of startups capable of delivering technology-led solutions for India’s housing sector, enhancing accessibility, sustainability, and efficiency. The MoU also reinforces the role of private sector leadership in complementing government initiatives to drive inclusive growth.