New Delhi:
Boat co-founder Aman Gupta has debated India’s startups with a message of solidarity for Union Commerce Minister Piyush Goyal, whose recent comments attracted both criticism and anxiety from Startup Ecosystem.
After Mr. Goyal’s comments, Mr. Gupta said in a statement, “It is not every day that the government asks the founders to dream big.” “I was there. I heard the full speech. Piyush Goyal ji is not against the founders. He believes in us. He was simple: India has come far away, but to lead the world … we need a high goal.”
It is not every day that the government asks the founders to dream big.
But in the startup Mahakumbe, this is exactly what happened. I was there. I heard the whole speech. Honorable. Minister @Piyushgooyal G is not against the founders. He believes in America. This point was simple: India has come far away, … pic.twitter.com/ba4ontaz1m
– Aman Gupta (@amangupta0303) 6 April, 2025
Mr. Gupta’s statement comes in view of Mr. Goyal’s comment in the event startup Mahakumba. The minister had questioned whether India should be satisfied with developing apps that distribute grocery or ice cream, especially when Chinese startups are investing in semiconductors, EVS and AI.
“We are making food/hyper delivery apps; to build cheap labor so that rich can eat without steps, while working on Chinese AI (Artificial Intelligence), EVS (Electric vehicles), and semiconductors. Do we should make ice cream (delivery apps) or make chicks (ie, semiconductors).
While several prominent entrepreneurs responded to Mr. Goyal’s comments with defensive or critical people, the boat chief interpreted the minister’s address as a motivational call for ambition. Drawing a parallel to your own experience on reality show Shark Tank India, he said, “If you want to make a world class product, you should know your competition. It also applies to India.”
His statement was contrary to the reactions of others in the startup community, who raised the issue with Mr. Goyal’s comments.
The comments extinguished the fire from Zepto’s co-founder Adit Palicha, who launched consumer internet startups in a detailed defense. In a LinkedIn Post, Mr. Palicha cited employment generation, tax contribution and foreign investment as proof of real economic value. “Around 1.5 million real people are earning livelihood on Zapto today,” he said. “If this is not a miracle in Indian innovation, I do not know what is honestly.”
Mr. Palicha also argued that many of the world’s largest technology companies – Amazon, Facebook, Tencent – Before developing in deep technical undertakings, consumers started as internet platforms. “Most technology -led innovations in the last two decades have originated from consumer internet companies,” he wrote. “We need to make great local champions … Do not pull down teams who are working hard to reach there.”
Former Infosys CFO Mohandas Pai urged the government to support the startup instead of doubt. “India has startups in all those areas in India [deep tech] Also, but they are small. Minister Piyush Goyal should not reduce our startups, but ask yourself what he has done to help him, “he said, the Startup Ecosystem was historically interrupted by policy obstacles such as regulatory obstacles from institutions such as Angel Tax and Reserve Bank of India.
Other, such as Anupam Mittal, the founder of Shaadi.com, acknowledged the ability of Indian startups, but pointed to the need for more support. “In the last few months, I have met some deep -technology companies that have completely blown me,” he said. “But there is a severe decrease in capital and ecosystem for development and commercialization.”
In a more pointed response, former Bharatpe managing director Ashner Grover said that China also began with consumer services before the creation of its deep technology industry. He said, “China had also distributed food first and then developed for deep technology. It is great what they have done, but perhaps for politicians to desire 10%+ economic development for 20 years for 20 years of flat for 20 years, before cheating today’s job creators,” he posted.
Despite the pushback, Mr. Goyal defended his comment, arguing that he was specially misinterpreted by the opposition.
He said, “My message for startups has been positively received except for some Congress party’s social media handle, which is hell-bent over the creation of a dispute. The young Indians are ready to capture the Indian world,” he said.
The Congress, claiming on social media, accused the minister who opposed the supporting startup story of the government that Mr. Goyal had “accepted India’s startup struggles” and “revealed the lies of Prime Minister Narendra Modi to startups.”
