On April 3, Commerce and Industry Minister Piyush Goyal issued a provocative critique of the Indian startup ecosystem at the second edition of the Startup Mahakumbh. His remarks sparked a debate, as he questioned the direction of Indian startups and lamented their focus on consumer-driven ventures like food-delivery apps, quick commerce, and boutique brands such as “fancy ice creams and cookies”. Goyal contrasted this with China’s startup landscape, where companies are advancing in high-tech fields like electric vehicles (EVs), semiconductors, artificial intelligence, and robotics.

The minister’s comments spotlight a sobering reality: India is struggling to foster groundbreaking innovation domestically, even as Indian talent thrives in high-tech sectors abroad. To become a global leader in a world racing ahead in technology, India must address systemic barriers and shift its focus beyond incremental, consumption-driven solutions. As the government focus on Viksit Bharat in 2047 gains steam, innovation will be a key driver and Prime Minister Narendra Modi has reiterated this on many occasions.

Link: https://indianexpress.com/article/opinion/columns/piyush-goyal-is-right-india-needs-an-ecosystem-that-better-enables-deep-tech-innovation-9937328/