Commerce minister’s dig at Indian start-ups sparks debate

India’s recent mention of the Startup Ecosystem of Piyush Goyal, India, has triggered a large -scale debate on social media and has reacted strongly from some entrepreneurs.

In the second edition of Mahakumbh, a start -up checkway led by the government last week, Koh seemed to have a difficult appearance for a consumer new company in India, urging entrepreneurs to explore more technological innovation to help the nation’s development.

He has fun with the injury of food delivery apps, craftsmanship and online betting apps, and many people have compared with the innovation of “other side”, which means China.

He said that “they” is still focusing on lifestyle products such as gluten -free ice cream, while “they” leap in machine learning, robotics and buildings “next -generation factories that can compete with other regions of the world.”

His opinion was that the reactions from the top innovators in India have soared, and some argued that the producers were more ambitious and others were called unfair criticism of the startup ecosystem, which is a great contribution to the national economy.

Clearly, Goyal also praised the speed of welcoming India as the third largest startup ecosystem in the world. He also urged Indian investors to do more to support Indian producers.

But he seemed to be more likely to see more things and soon to see.

“We must be willing to evolve and learn. [If] We want to be bigger and better. Then we must be more bold and not ashamed of competition, ”the minister said.

At some point he asked the audience to tempt with entrepreneurs and investors. “We make ice cream [semiconductor] bit?”

AADIT PALICHA, co-founder of Quick-Commerce App ZEPTO, has quickly caused the minister.

In X’s post, he claimed to be a consumer Internet company that led innovation in technology spaces, India and the world.

He originally pointed out that Amazon, a consumer Internet company, has expanded its cloud computing, and today’s big players such as Facebook and Google are once consumer Internet companies.

He urged Indian investors to support consumer Internet companies so that they could increase and use profits for more ambitious innovation.

A prominent angel investor, Mohandas PAI, said in the news that the government and private players lack capital investment in the new companies of deep sea from the government and private players.

He explained that investors have made a line for lifestyle -based startups because investors make quick profits.

Deep sea innovation takes a long time to develop and demand expensive infrastructure. “People do not take long -term dangers, they need long -term ‘patient’ money. [for deep tech start-ups to thrive]He said.

He also said that regulatory stones of foreign investments in Indian new companies are harming innovation.

“Deep Tech new companies are also struggling to find the market,” he added. He recently pioneered a fast battery for bus, but he added, quoting an example of an Indian company that did not find a candidate for the product.

Many social media users also talked about the problems faced when trying to start their own technology business.

Some said they struggled to get loans, and others emphasized high import taxes on certain foreign raw materials and equipment, and some talked about unnecessary red tapes that made documents and approval nightmares.

However, some entrepreneurs also defended the minister, and his opinion was good and there were many essential reality of the startup ecosystem.

VIRONIKA S, founder of EDTECH App Proxy Gyan, added that the future global economic leadership in India depended on the groundbreaking innovation of AI and semiconductor, but there was a realistic barrier and could help by alleviating the government.

Indian investor KUSHAL BHAGIA said in X’s post that Goyal was right for ambitions and in -depth technology startups in India. “We do not meet enough founders who are truly deep or ambitious.”

He belonged to the lack of founders in deep sea to allow people to leave the country to work in an American company as an Indian technical talent and to be inspired by people.

The minister’s opinion also analyzed the various travels between India and China’s startups.

Journalist Abhijeet Kumar I wrote In the business standard newspaper, only 5%of Indian start -up funds entered the deep tech division compared to 35%of China. He also pointed out how Beijing actively promoted advanced technology innovation. In 2024, the company cut $ 310 billion in taxes and fees for advanced technology companies, including R & D, worth $ 80.8 billion.

at editorial The newspaper, published on Monday, also pointed out that Indian new companies are also focusing on using technology to solve local problems around the world by creating more basic models.

India currently has 4,000 deep -sea new companies, and this figure is expected to increase to 10,000 by 2030, and cited the NASSCOM report, and the deep technology start -up company in India has attracted $ 16 billion in funds in 2024 and increased 78% year -on -year.

But there is still a long way to go.

“It is clear that India must make a lot of effort to catch up with these countries as the deep sea race is strengthened worldwide.

“This may include establishing an in -depth technology innovation fund and providing incentives for the rapid development of strong academic start legs and the rapid development of hardware, AI, biotechnology and clean energy.”

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