Piyush Goyal, minister of Commerce and Industry, delivered a speech at Startup Mahakumbh on Thursday, where he strongly criticised India바카라™s startup business and e-commerce system.
Piyush Goyal has also warned that the country is at risk of falling behind in the global scenario if they don바카라™t shift their focus from e-commerce to high-impact innovation.
Piyush Goyal, minister of Commerce and Industry, delivered a speech at Startup Mahakumbh on Thursday, where he strongly criticised India바카라™s startup business and e-commerce system.
He has also warned that the country is at risk of falling behind in the global scenario if they don바카라™t shift their focus from e-commerce to high-impact innovation.
Startup Mahakumbh is an initiative taken by the Indian government to shape the future of the Indian startup ecosystem under the theme 바카라˜Startup India @ 2047 : Unfolding The Bharat Story바카라™.
The programme is scheduled from April 3-5 at Bharat Mandapam, New Delhi, focused on the journey and vision of India바카라™s startup ecosystem over the next two decades, aiming to shape an innovative, self-reliant and Vikshit Bharat by 2047.
Speaking at Startup Mahakumbh, Commerce Minister Piyush Goyal mentioned that India바카라™s startup system is mainly focused on food delivery, e-commerce, betting and fantasy sports apps, but he doubted the real-world impact of these startup systems.
He slammed Indian startups by saying, 바카라œWe are focused on food delivery apps turning unemployed youth into cheap labour so the rich can get their meals without moving out of their house. Are we going to be happy being delivery boys and girls? Do we have to make ice cream or chips? Dukandari hi karna hai (Do we just need to sell things?)
He also noted that there are only around 1000 startups currently in the country who work in deep-tech areas such as AI, robotics, semiconductors, etc. He addressed India바카라™s startup ecosystem as a 바카라˜disturbing situation바카라™ and also suggested that Indian startups need a 바카라˜reality check바카라™ in terms of what they are doing.
While giving a speech, Goyal also drew attention to Chinese startups by saying, 바카라œWhat does a Chinese startup do? They work on developing electric mobility battery technologies, and they are today dominating the electric mobility ecosystem. China is developing semiconductors and investing heavily in AI models which will prepare the nation for the future.바카라
He also mentioned, 바카라œIs that the destiny of India? Is India바카라™s future satisfied? We are very proud of what India has done but are we the best in the world as yet? Not yet. We shouldn바카라™t shy away from competition, but rather strive for innovation and long-term sustainability."
Many of the startup veterans have highly criticised Goyel바카라™s statement. Mohandas Pai, former Infosys executive, posted on X, quoting, 바카라œPiyush Goyal shouldn바카라™t belittle our startups but ask himself what has he done as our Minister to help deep-tech start-ups grow in India?바카라
BharatPe Co-founder Ashneer Grover said, 바카라œThe only people in India who need a 바카라˜reality check바카라™ are its politicians. Everyone else is living in the absolute reality of India.바카라