Union Commerce and Industry Minister Piyush Goyal has called on Indian startups to shift their focus from short-term delivery services and low-value consumer products to high-tech innovation in fields such as artificial intelligence, robotics, and electric mobility. Speaking at the second edition of Startup Maha Kumbh, Goyal highlighted the urgent need for Indian entrepreneurs to build scalable, technology-driven solutions that can compete on the global stage. Piyush Goyal expressed disappointment over the trend of Indian startups selling their innovative ideas to foreign firms for meager sums. He lamented that bright Indian ideas are often acquired by international companies for as little as ₹50-60 lakh, depriving the nation of valuable intellectual property and long-term economic benefits.
“I only wish there were more Indian investors backing our startups rather than foreign companies buying them out,” he said, urging Indian investors to step up and support homegrown innovation.
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Piyush Goyal compared the Indian startup ecosystem with China’s, pointing out that while Indian startups are heavily invested in food delivery and quick commerce, Chinese startups are making significant strides in electric mobility, semiconductor manufacturing, and AI development. He called on Indian entrepreneurs to be more ambitious and to focus on developing technologies such as 3D printing, next-generation factories, and automation.
“We must learn from other countries. We must be willing to evolve, aspire to be bigger and better, and not shy away from competition,” Goyal emphasized.
The minister was critical of the gig economy’s dominance in India, questioning whether the nation should be satisfied with merely creating jobs in food delivery services while other countries push boundaries in deep-tech.
“Are we going to be happy being delivery boys and girls? Is that the destiny of India?” he asked, calling for a shift in perspective towards more impactful entrepreneurship.
Piyush Goyal also took a dig at luxury consumer brands created by billionaire entrepreneurs’ children, saying that repackaging premium products with fancy labels should not be mistaken for real innovation.
“I have seen multiple startups branding cookies, ice creams, and gluten-free snacks under the label of ‘healthy’ and ‘vegan’ with good packaging. But is this the kind of disruptive innovation India needs?” Piyush Goyal questioned.
Additionally, Piyush Goyal addressed mentors from the popular show Shark Tank India, urging them to change their perspective and support value-driven companies that contribute to India’s technological and economic growth. “Aman Gupta, change your perspective in Shark Tank,” he said, highlighting the need for investors to focus on sustainable and large-scale innovation.
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One of Goyal’s key messages was the importance of increasing domestic investment in startups. He stressed that a strong foundation of Indian capital is crucial for long-term stability and self-reliance in the startup ecosystem. “The government is here to support entrepreneurs, even those who fail. But we need more Indian investors who believe in long-term innovation rather than short-term profits,” he said.
Goyal’s remarks at Startup Maha Kumbh 2025 serve as a wake-up call for Indian entrepreneurs to look beyond quick commerce and focus on high-impact sectors. If India aims to become a global technology leader by 2047, startups must drive innovation in robotics, machine learning, battery technology, and deep-tech.
