Piyush Goyal Slams Congress For Misinterpreting His Comment On Startups: ‘Manufacturing Controversy’ – News18
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Piyush Goyal sparked a heated debate on-line after his sharp critique on Indian startups specializing in meals supply and betting apps, and evaluating it to China’s deal with deep tech.
Union Commerce Minister Piyush Goyal delivered a pointy critique of India’s startup ecosystem
Union Commerce Minister Piyush Goyal slammed the Congress for “misinterpreting” his comment on Indian startups, which began a heated debate amongst startup founders throughout the nation. The minister accused the Congress of “manufacturing controversy”.
Whereas chatting with reporters on Friday, Goyal mentioned his message was taken positively by the budding entrepreneurs. He additionally alleged that the Congress ecosystem didn’t perceive his message for startups, which is a mirrored image of their destructive method.
“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 when it’s none. the suggestions that I’ve obtained is that the younger Indians are able to seize the world,” he mentioned.
What Did Goyal Say?
Whereas talking on the Startup Maha Kumbh on Thursday, Goyal set off a row by delivering a pointy critique of India’s startup ecosystem, highlighting its heavy deal with meals supply, betting, and fantasy sports activities apps, whereas contrasting it with China’s developments in electrical autos (EVs), battery expertise, semiconductors, and synthetic intelligence (AI).
“Will we need to make ice cream or chips? Are we simply right here for retail?” he requested, urging startups to pursue significant innovation. “Are we going to be glad being supply girls and boys? Is that this India’s future? This isn’t startup tradition—that is simply entrepreneurship,” he additional mentioned.
Piyush Goyal’s blackpill on the economic system is telling that the BJP appears to be waking as much as actuality, which already units it aside from the remainder pic.twitter.com/r6GmAasLlv— Lord Immy Kant (Jap Exile) (@KantInEast) April 4, 2025
India is the world’s third-largest startup hub, with over 100 unicorns and roughly 1.57 lakh government-recognized startups. Nonetheless, Goyal challenged whether or not these ventures had been actually driving progress. “What are Indian startups doing at the moment? We’re prioritizing meals supply apps, turning unemployed youth into low-wage gig staff in order that the rich can get meals delivered with out stepping out,” he mentioned, drawing a comparability with China’s deep-tech focus.
China is specializing in semiconductors’ development, synthetic intelligence, and constructing chips, which is able to put together themselves for his or her future, he mentioned. Why doesn’t India have its personal large-scale foundational AI mannequin, Goyal quipped, including that “it’s as a result of we nonetheless haven’t constructed nice web firms”.
The Congress reacted by saying that Goyal admitted India’s startup struggles and uncovered the lies of Prime Minister Narendra Modi on startups.
Trade Leaders React To Goyal’s Remarks
Union Commerce Minister Piyush Goyal’s critique of India’s startup ecosystem sparked backlash from trade leaders, together with Zepto CEO Aadit Palicha and former Infosys govt Mohandas Pai. Palicha pressured the necessity for presidency help in fostering “native champions” moderately than undermining groups striving to drive technological revolutions.
Echoing comparable considerations, Mohandas Pai cautioned in opposition to “belittling” Indian startups and questioned the federal government’s function in fostering deep-tech innovation. “These are unfair comparisons. As an alternative of criticizing our startups, Piyush Goyal ought to ask himself: What has he carried out as Minister to assist deep-tech startups develop in India? It’s simple to level fingers,” Pai tweeted.
Paytm founder Vijay Shekhar Sharma mentioned the Indian startup system continues to be evolving in its maturity cycle, whereas the identical in China and the US are extra developed. “Whether or not China or America, developed ecosystems are geared as much as play the lengthy haul. When you’re mature, you will have sources, then you’ll be able to play an extended arc recreation,” Sharma mentioned.
Nonetheless, Zoho’s Vembu noticed the minister’s name as a problem to engineers and technologists and never as “pointing fingers”, expressing optimism that India will catch as much as China in deep tech. “What we want are good engineers who roll up our sleeves and get it carried out. Take into account the nutritional vitamins and most cancers remedy argument – sequencing how we pay for our huge tech ambition may be very a lot a part of the engineering drawback that good engineers should clear up! We are able to do that,” he mentioned.
(with PTI inputs)
