“dukaandari hi karna hai?” Union Minister Piyush Goyal slams Indian startups; Zepto founder Aadit Palicha, Mohandas Pai, others hit back
“We have to make ice cream or fries? Goyal said in a speech at startup Maha Kumbh on April 3. He further questioned whether the country is content with low-paying gig jobs rather than trying to seek technological advancements.
Several business leaders and startup founders fought back against union minister Piyush Goyal after criticizing India’s startup ecosystem.
Goyal, 60, said at a recent event that startups in the country are too focused on food delivery and fantasy movements. Comparing India’s startup ecosystem with China, he said startups are working in technologically advanced fields such as electric vehicles (EV), battery technology, semiconductors and artificial intelligence (AI).
What did Goya say?
“We have to make ice cream or fries? Goyal said in a speech at startup Maha Kumbh on Thursday (April 3). He further questioned whether the country is content with low-paying gig jobs rather than striving to pursue technological advancements.
Business leaders and founders lash out at Goyal
Many business leaders and startup founders have slammed Goyal’s comments.
Mohandas Pai, a well-known investor and former CFO of Infosys, said the comparison with China is unfair and has attracted attention to the government’s contribution to promoting the growth of Indian technology startups.
“These are bad comparisons. India also has startups in all these areas, but they are small. Minister @piyushgoyal should not belittle our startups, but ask himself what he did in our ministers to help our ministers help the growth of deep technology startups in India?” Pai wrote in a post on X.
Ashneer Grover, one of Bharatpe’s co-founders, also criticized Goyal’s remarks. “The only person in India who needs ‘reality check’ is a politician. Everyone else lives in the absolute reality of India,” Grover wrote.
He added: “China also opens up food first and then develops into dark technology. It’s great to be eager for what they do – maybe it’s time for politicians to crave 10% economic growth, level up for 20 years before working on job creators today.”
Aadit Palicha, co-founder of food and grocery platform Zepto, joins the chorus that defends India’s startup ecosystem.
“It’s easy to criticize consumer internet startups in India, especially when you compare them to the deep technological excellence built in the US/China.”
Anupam Mittal, founder of Matrimonial Platform Shaadi.com, also filmed Gibb in Goyal. “The founder can do most things, but not everything,” he wrote in his post X.
Startups in India
According to the India Startup India website, India currently has nearly 20,000 startups, with about 4,750 of which are technology-led.
