 "India's Commerce Minister Piyush Goyal. File image/ Reuters")
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.
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.