Piyush Goyal’s Indian Startups Remarks Ignite Debate, boAT Founder Aman Gupta Offers Support

Co-founder of boAT Aman Gupta has entered the discussion surrounding Indian startups with a post of support for Union Commerce Minister Piyush Goyal, whose recent comments sparked the debate among the startup community.

Boat co-founder Gupta took to X (Twitter) and posted, "It's not every day that the government asks founders to dream bigger. I was there. I heard the full speech. Piyush Goyal ji isn't against founders. He believes in us. His point was simple: India has come far, but to lead the world...we need to aim higher."

Piyush Goyal's Comments Spark Debate Among Entrepreneurs

Union Minister Piyush Goyal at the Startup Mahakumbh event in his speech, questioned whether India should be satisfied with creating simple apps like those for delivering groceries or ice cream, especially in comparison to Chinese startups that are investing in more advanced and high-tech sectors like semiconductors, electric vehicles (EVs), and artificial intelligence (AI).

"We are making food/hyper delivery apps; creating cheap labour so the rich can have a meal without stepping out, while the Chinese are working on AI (artificial intelligence), EVs (electric vehicles), and semiconductors. Should we make ice cream (delivery apps) or make chips (i.e., semiconductors)? Dukaandari hi karna hai (Do we just want to sell things)?" Minister Goyal asked at the Startup Mahakumbh event.

Apart from Aman Gupta, here is how others in the startup community responding to the minister's views:

Zepto Co-founder Aadit Palicha Disagrees With Piyush Goyal

Aadit Palicha, co-founder of Zepto, disagreed with the remarks and strongly defended consumer internet companies like his own. In a LinkedIn article, he highlighted how these companies bring real economic value through foreign investment, taxes, and job creation. He posted, "Almost 1.5 lakh real people are earning livelihoods on Zepto today. If that isn't a miracle in Indian innovation, I honestly don't know what is."

Additionally, Mr. Palicha claimed that a number of the biggest technology companies in the world, like Amazon, Facebook, and Tencent, started as consumer internet platforms before developing into more complex tech endeavours.

Furthermore, he added, "Most technology-led innovation over the past two decades has originated from consumer internet companies," he wrote. "We need to build great local champions... not pull down teams that are trying hard to get there."

Infosys Ex CFO Mohandas Pai Asks Goyal to Support Startup

Former Infosys CFO (Chief Financial Officer) Mohandas Pai called on the government to support startups rather than undermine them. He emphasized that India does have startups in deep tech, though they are still small, and criticised Minister Piyush Goyal for belittling these startups. Pai questioned what Mr. Goyal had done to support them, pointing out that the startup ecosystem has long been hindered by policy challenges such as the Angel Tax and regulatory barriers from institutions like the Reserve Bank of India (RBI).

Mohandas Pai said, "India has startups in all those areas [deep tech] too, but they are small. Minister Piyush Goyal should not belittle our startups but ask himself what he has done to help them."

Shaadi.com Founder Anupam Mittal Stresses on Lack of Support

Anupam Mittal, founder of Shaadi.com, recognized the tremendous potential of Indian startups but stressed the importance of increased support. He said, "In the last few months, I've met a few deep-tech companies that have absolutely blown me away. But capital and the ecosystem for growth and commercialisation are severely lacking."

Ashneer Grover Says Time for Politicians to Aspire for 10%

Ashneer Grover, the former managing director of BharatPe, responded more sharply, pointing out that even China started with consumer services before expanding its deep-tech sector. "The only people in India who need a 'reality check' are it's politicians. Everyone else is living in the absolute reality of India. China also had food delivery first and then evolved to deep tech. It's great to aspire to what they've done- but maybe time for politicians to aspire for 10%+ economic growth for 20 years flat before chiding today's job creators," he posted.

Mr. Goyal argued that his comments had been misunderstood, especially by the opposition, despite the criticism. He said, "My message for startups has been received positively except by some Congress party social media handles who are hell-bent on manufacturing a controversy. The young Indians are ready to capture the world."