Piyush Goyal, minister of Commerce and Industry, delivered a speech at Startup Mahakumbh on Thursday, where he strongly criticised India바카라s 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 don바카라t shift their focus from e-commerce to high-impact innovation.
Startup Mahakumbh
Startup Mahakumbh is an initiative taken by the Indian government to shape the future of the Indian startup ecosystem under the theme 바카라Startup 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 India바카라s startup ecosystem over the next two decades, aiming to shape an innovative, self-reliant and Vikshit Bharat by 2047.
What Did Piyush Goyal Say?
Speaking at Startup Mahakumbh, Commerce Minister Piyush Goyal mentioned that India바카라s 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, 바카라We 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 India바카라s startup ecosystem as a 바카라disturbing situation바카라 and also suggested that Indian startups need a 바카라reality check바카라 in terms of what they are doing.
India vs China Startup Comparison
While giving a speech, Goyal also drew attention to Chinese startups by saying, 바카라What 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, 바카라Is that the destiny of India? Is India바카라s future satisfied? We are very proud of what India has done but are we the best in the world as yet? Not yet. We shouldn바카라t shy away from competition, but rather strive for innovation and long-term sustainability."
Backlash
Many of the startup veterans have highly criticised Goyel바카라s statement. Mohandas Pai, former Infosys executive, posted on X, quoting, 바카라Piyush Goyal shouldn바카라t 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, 바카라The only people in India who need a 바카라reality check바카라 are its politicians. Everyone else is living in the absolute reality of India.바카라
