After Piyush Goyal’s Startups Jab Stirs Debate, Help From boAT Founder Aman Gupta
New Delhi:
Aman Gupta, co-founder of boAT, has stepped into the talk over India’s startups with a message of solidarity for Union Commerce Minister Piyush Goyal, whose latest remarks drew each criticism and concern from throughout the startup ecosystem.
“It isn’t day by day that the federal government asks founders to dream greater,” Mr Gupta mentioned in an announcement, following Mr Goyal’s feedback. “I used to be there. I heard the complete speech. Piyush Goyal ji is not towards founders. He believes in us. His level was easy: India has come far, however to guide the world…we have to goal larger.”
It isn’t day by day that the federal government asks founders to dream greater.
However at Startup Mahakumbh, that is precisely what occurred. I used to be there. I heard the complete speech. Hon. Minister @PiyushGoyal Ji is not towards founders. He believes in us.His level was easy: India has come far,… pic.twitter.com/bA4ontAz1M
— Aman Gupta (@amangupta0303) April 6, 2025
Mr Gupta’s assertion comes within the wake of Mr Goyal’s remarks on the occasion Startup Mahakumbh. The minister had questioned whether or not India needs to be content material with growing apps that ship groceries or ice cream, particularly when Chinese language startups are investing in semiconductors, EVs, and AI.
“We’re making meals/hyper supply apps; creating low cost labour so the wealthy can have a meal with out stepping out, whereas the Chinese language are engaged on AI (synthetic intelligence), EVs (electrical automobiles), and semiconductors. Ought to we make ice cream (supply apps) or make chips (i.e., semiconductors)? Dukaandari hello karna hai (Can we simply wish to promote issues)? Mr Goyal requested on the occasion.
Whereas a number of outstanding entrepreneurs responded with defensive or essential takes on Mr Goyal’s feedback, the boAT chief interpreted the minister’s handle as a motivational name for ambition. Drawing a parallel from his personal expertise on the truth present Shark Tank India, he mentioned, “If you wish to construct a world-class product, you should know your competitors. That applies to India too.”
His assertion stood in sharp distinction to reactions from others within the startup neighborhood who took concern with Mr Goyal’s remarks.
The feedback drew fireplace from Zepto co-founder Aadit Palicha, who launched into an in depth defence of shopper web startups like his personal. In a LinkedIn publish, Mr Palicha cited job creation, tax contributions, and overseas funding as proof of actual financial worth. “Virtually 1.5 lakh actual persons are incomes livelihoods on Zepto immediately,” he mentioned. “If that is not a miracle in Indian innovation, I truthfully do not know what’s.”
Mr Palicha additionally argued that lots of the world’s largest expertise firms – Amazon, Fb, Tencent – started as shopper web platforms earlier than evolving into deeper tech ventures. “Most technology-led innovation over the previous twenty years has originated from shopper web firms,” he wrote. “We have to construct nice native champions… not pull down groups which might be making an attempt laborious to get there.”
Former Infosys CFO Mohandas Pai urged the federal government to help startups quite than solid doubt. “India has startups in all these areas [deep tech] too, however they’re small. Minister Piyush Goyal mustn’t belittle our startups however ask himself what he has carried out to assist them,” he mentioned, including that the startup ecosystem had been traditionally hampered by coverage hurdles just like the Angel Tax and regulatory constraints from establishments just like the Reserve Financial institution of India.
Others, like Shaadi.com founder Anupam Mittal, acknowledged the potential of Indian startups however pointed to the necessity for larger help. “In the previous couple of months, I’ve met a number of deep-tech firms which have completely blown me away,” he mentioned. “However capital and the ecosystem for development and commercialisation are severely missing.”
In a extra pointed response, former BharatPe managing director Ashneer Grover famous that even China started with shopper providers earlier than constructing out its deep-tech business. “China additionally had meals supply first after which developed to deep tech. It is nice to aspire to what they’ve done-but perhaps time for politicians to aspire for 10%+ financial development for 20 years flat earlier than chiding immediately’s job creators,” he posted.
Regardless of the pushback, Mr Goyal defended his remarks, arguing that they’d been misinterpreted-particularly by the Opposition.
“My message for startups has been obtained positively besides by some Congress get together social media handles who’re hell-bent on manufacturing an argument. The younger Indians are able to seize the world,” he mentioned.
The Congress accused the minister of contradicting the federal government’s pro-startup narrative, claiming on social media that Mr Goyal had “admitted India’s startup struggles” and uncovered “the lies of Prime Minister Narendra Modi on startups.”
