Union Commerce Minister Piyush Goyal didn’t hold back as he critiqued India’s current startup trajectory. Speaking at an event, he said too many Indian entrepreneurs are focusing on food delivery, fantasy sports, and betting apps, rather than game-changing technologies.
“India ko ice-cream banani hai ki chips?” he asked pointedly, urging young innovators to reflect on whether they want to build snack brands or push boundaries in deep tech and future technologies.
He also took aim at popular platforms like Shark Tank India, accusing them of promoting ventures that prioritize quick profits over long-term national impact. “We don’t need 100 cupcake brands. We need startups working on EVs, semiconductors, and AI,” he said, calling for a mindset shift among both investors and founders.
His comments triggered sharp reactions. Zepto CEO Aadit Palicha defended the current landscape, arguing that many founders are solving real and urgent needs-and deserve encouragement, not criticism.
But Goyal stood his ground. He revealed that of India’s 1.25 lakh startups, barely 1,000 are working in deep tech-a gap he called “deeply troubling.” He urged upcoming entrepreneurs to steer toward green energy, AI, chip design, and biotechnology, emphasizing the need to build solutions that future-proof the nation.
As India continues to nurture its growing startup ecosystem, Goyal’s message has sparked a crucial conversation: Should we settle for faster dinners, or aim to design the future?
