Union Commerce and Industry Minister Piyush Goyal’s address at the Startup Mahakumbh 2025 in New Delhi has ignited a debate within India’s start-up community.
Comparing India’s start-up landscape to China’s, Goyal questioned, “Should we aspire to be, or are we going to be happy being delivery boys and girls?” which did not sit well with many
Zepto CEO Aadit Palicha fires back
Zepto CEO and Co-founder Aadit Palicha responded to Goyal’s remarks via a post on social media platform X, on Thursday, April 3, defending the value of consumer internet startups.
He highlighted Zepto’s achievements, stating, “There are almost 1.5 lakh real people who are earning livelihoods on Zepto today—a company that did not exist 3.5 years ago."
Palicha also claimed the company contributes Rs 1,000+ crore of tax to the government per year, attracts over a billion dollars in foreign direct investment, and invests heavily in revamping India’s supply chains, particularly for fresh produce. “If that isn’t a miracle in Indian innovation, I honestly don’t know what is,” he asserted.
Palicha argued that India’s lag in developing a large-scale foundational AI model stems from the absence of robust internet companies. Citing global giants like Amazon, Facebook, Google, and Alibaba, originally consumer internet firms, he noted, “Consumer internet companies drive this innovation because they have the best data, talent, and capital to put behind it.”
Support not criticism
Palicha also urged stakeholders to bolster local entrepreneurs rather than undermine them. “The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there,” he wrote.
He acknowledged Zepto’s ongoing journey, admitting it isn’t yet a “great Internet company” but stressing its relentless efforts to reach that goal.
Looking ahead, Palicha vowed to dedicate decades to infusing “dynamism in the Indian economy.” He concluded by saying, “We have the talent and capital; we just need the execution.”
