Union Commerce Minister Piyush Goyal defended his recent remarks on India’s startup ecosystem against political backlash. He clarified that his question to Indian startups was misconstrued by the Congress party. Goyal emphasized that his intention was to encourage startups to aim higher and innovate, not to undermine their efforts.
“In response to Congress distorting my comments, I aimed to inspire young startups toward big aspirations. Despite their attempts to create a false narrative, our youth seek a better life and world-class achievements. The Congress party consistently engages in such actions, but I remain unfazed.”
At the Startup Mahakumbh, Goyal questioned if Indian startups focusing solely on food delivery, fantasy sports, and betting apps were missing broader innovation opportunities seen in China – EVs, semiconductors, batteries, and AI. He suggested Indian startups were fixated on a narrow market segment, turning unemployed youth into cheap labor for the affluent.
Goyal criticized Indian startups for focusing on luxury food items like “fancy zero gluten-free ice creams” and cookies, possibly referencing Boat CEO Aman Gupta’s investment in Go Zero ice cream. His comments faced pushback from some in the startup community who believed the criticism was unjust given the sector’s economic impact in India.
Goyal also praised India’s growing startup ecosystem, ranking it as the world’s third-largest. Encouraging innovation, he posed the question to the audience: “Ice creams or chips? Dukaandari hi karna hai?” Emphasizing the need for evolution and boldness, the minister stressed that growth requires a willingness to learn and change.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
Leave a Reply