Think Big, Don’t Stop At Food Delivery!

The Indian start-up ecosystem is evolving like never before. A lot of enthusiasts are turning to Entrepreneurs, but Commerce Minister Piyush Goyal shared his thoughts that the Indian startup space is mostly filled with food delivery, betting apps, and fantasy sports apps, in comparison with other countries like China.

Of late, many startups have emerged in the country and most of them focus on either food, or clothing or cosmetics. The majority of them want to sell something, which Piyush finds fault with.

Speaking at the Startup Maha Kumbh on Thursday, Piyush Goyal questioned whether the country was content with low-paying gig jobs. According to him, the startup ecosystem in China is driven towards EV, battery tech, semiconductors, and AI.

“Do we have to make ice cream or chips? Dukaandari hi karna hai (Do we want to just sell things),” he asked.

India is regarded as the third largest startup hub, with over 100 unicorns and 1.57 lakh startups recognized by the government of India.

“What are India’s startups of today? We are focused on food delivery apps, turning unemployed youths into cheap labour so the rich can get their meals without moving out of their house. Only 1,000 startups in India’s deep-tech space is a disturbing situation. I feel sad when I come to know that for Rs 25 lakh or Rs 50 lakh, a bright idea of a young start-up got sold to a foreign company,” shared Piyush.

However, Piyush’s remarks did not go well with the industry experts. They criticised that the government should encourage the local champions and not draw unnecessary comparisons.