 "‘Want to make ice cream or chips?’: Piyush Goyal does reality check on Indian startups, cites China")
Union Commerce Minister Piyush Goyal raised concerns about India’s startup scene for focusing too much on food delivery, betting, and fantasy sports apps, while China is advancing in EVs, batteries, semiconductors, and AI.
Goyal was speaking at Startup Maha Kumbh on Thursday.
He asked if the country was settling for low-paying gig jobs instead of real innovation. “Do we want to make ice cream or chips? Are we just here for retail?” he said, urging startups to aim higher.
Piyush Goyal’s blackpill on the economy is telling that the BJP seems to be waking up to reality, which already sets it apart from the rest pic.twitter.com/r6GmAasLlv
— Lord Immy Kant (@KantInEastt) April 4, 2025
India is the world’s third-largest startup hub, with over 100 unicorns and around 1.57 lakh government-recognised startups. But Goyal questioned whether these ventures are truly bringing progress. “Are we okay with just being delivery boys and girls? Is that India’s future? This isn’t real startup culture—it’s just basic entrepreneurship,” he said.
“What are Indian startups doing today? We are prioritising food delivery apps, turning unemployed youth into low-wage gig workers so that the wealthy can get meals delivered without stepping out," he stated.
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