Union Commerce and Industry Minister Piyush Goyal, speaking at the Startup Mahakumbh 2025 in New Delhi on Thursday, April 3, called on India’s start-up ecosystem to shift its focus toward cutting-edge technology sectors such as semiconductors, machine learning, robotics, and artificial intelligence (AI).
He further emphasised that the nation’s entrepreneurial focus should not be limited to ventures like grocery delivery or ice cream production, as stated in a report by Hindustan Times.
Critique of luxury consumer ventures
Goyal expressed his skepticism about labelling certain ventures as start-ups, particularly those he described as luxury consumer brands launched by the offspring of billionaires. “I have been going through a lot of our start-up success stories,” he said and added, “Wherever I go, all over the country, I know at least three or four billionaires whose children make at least one brand of fancy cookies and ice creams.”
He clarified, “I have no complaints against that, but is that the destiny of India?”
The minister challenged the startup community to aim higher than service-based models. “Are we going to be happy being delivery boys and girls?” he questioned.
He drew a contrast with Chinese start-ups, which he noted are advancing in robotics, machine learning, 3D manufacturing, and next-generation factories.
A vision for the future
Goyal questioned the relevance of focusing on trivial consumer products, asking, “Do we have to make ice cream or chips?” Instead, he advocated for start-ups that prepare India for the future by leveraging advanced technology. He stressed that such efforts would position the country as a global leader in innovation.
Government support for startup growth
To bolster this vision, Goyal assured the start-up community of government support. He promised to “handhold” and encourage entrepreneurs facing challenges, urging them to persevere through setbacks. “The government will support all those who try and try again,” he affirmed.
Push for domestic investment
The minister also underscored the need for a robust pool of domestic capital investors to sustain India’s start-up growth. He argued that reducing reliance on foreign capital is essential. “A strong foundation of indigenous investment is vital,” Goyal said.
