Union Commerce and Industry Minister Piyush Goyal on Thursday asked India's startup community to focus more on the tech sector like semiconductor, machine learning, robotics, and artificial intelligence (AI) as compared to grocery delivery and ice cream making.
Goyal argued that luxury consumer brands created by the children of billionaires aren't to be mistaken for real startups, while speaking at the Startup Mahakumbh 2025 in New Delhi.
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“I have been going through a lot of our startup success stories," Goyal said. "Wherever I go, all over the country, I know at least three or four billionaires whose children make at least one brand of fancy cookies and ice creams."
Goyal said that "I have no complaints against that but is that the destiny of India?”
“Are we going to be happy being delivery boys and girls?” he remarked.
He said that “this is not startup, this is entrepreneurship,” and compared Indian startups with Chinese ones, adding that “the other side” is working on “robotics, machine learning, 3D manufacturing and next generation factories factories.”
What is Piyush Goyal's suggestion for startups?
Goyal said the new startups should be focusing on preparing the nation for the future. "Do we have to make ice cream or chips?" he asked.
For this, he also assured that the government on its part will handhold as well as support all those who face challenges in their startup journey, and encourage them to persevere and try again.
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He also highlighted the increasing need for domestic capital investors for startups, stating that a strong foundation of indigenous investment is vital to reducing dependency on foreign capital as well as for ensuring long-term economic resilience.