While criticizing India’s Startup Ecosystem, Union Minister of Commerce Piyush Goyal (Piyush Goyal) said that many startup food delivery and betting in the country are focusing more on the Fantasy Sports app, while in China, EV, Battery Technology, Semiker and AI are working. Speaking at the Startup Mahakumbh on Thursday, Goyal questioned whether the country is satisfied with a low -paid gig job instead of trying for technological progress.
The Union Minister asked, ‘Do we have to make ice cream or chips? Shopkeeping has to be done. The Union Minister further said about startups that will we be happy to become delivery boys and girls? Is this the destiny of India… It is not a startup, but entrepreneurship.
Comparing a startup attitude in China, Piyush Goyal claimed that he was ahead in AI and technology, Goyal said that Indian startups needed to investigate reality. What are India’s startups today? We are focus on the food delivery app, transforming unemployed youth into cheap labor so that rich people can get their food without going out of their house.
Dip-tech startup number low
Calling to focus on innovation beyond e-commerce, Goyal said that the number of deep-tech startups in India is limited. He said that having only 1,000 startups in India’s deep-tech region is a disturbing situation. The Minister of Commerce emphasized that the country should prepare the new startup for the future. He further said, “I feel sad when I come to know that a brilliant idea of ​​a young start-up was sold to a foreign company for Rs 25 lakh or 50 lakh.
Business leaders said this is not right!
The Union Minister’s statement has been strongly criticized by the leaders of industry like ZEPTO’s CEO Adit Palicha and former Executive Mohandas Pai of Infosys. In a post on X, the CEO of Zepto said that the government should support its start -ups and do not stop the teams trying to bring ‘technology revolution’.
Palicha, who is also the co-founder of the Quick Commerce platform, said that it is easy to criticize consumer internet startups and compare them with technological progress in the United States or China.
Palicha said, ‘If we ever want to be a part of the great technology revolution, we need to first make the great local champion in the Internet that generates hundreds of million dollars in FCF. Startup ecosystem, owners of large pools of government and Indian capital need to actively support the construction of these local champions, not to push back the teams who are working hard to reach there.
‘Easy finger lifting’
Mohandas Pai said that the minister should not consider Indian startups as small and he questioned the role of the government in assisting deep-tech startups. He wrote, ‘This is a bad comparison. Piyush Goyal should not underestimate our startups, but should ask himself what he has done to help grow deep-tech startups in India? It is easy to raise finger on them.