At the Startup Mahakumbh event 2025 in Delhi, Goyal said Indian startups are focusing too much on food delivery and convenience services. He urged them to aim higher and work on deep-tech innovations like semiconductors and AI, which upset some startup founders.
Goyal compared Indian startups to Chinese ones, pointing out how China is progressing in areas like robotics, 3D manufacturing, and electric mobility. Goyal said: "Are we going to be happy being delivery boys and girls... Is that the destiny of India? This is not a startup, this is entrepreneurship"
While many startup founders agreed with Goyal’s push for deep-tech, Some criticised him over his comments on consumer focused startups. They argued that solving everyday problems like making life more convenient, is still important and highly relevant in India.
Zepto founder Aadit Palicha ''defended consumer startups'' saying they create jobs, pay taxes and attract investment. He agreed that innovation is important but said the government should support Indian startups instead of criticising them.
A presentation at the event compared Indian and Chinese startups. Many felt this painted India in a negative light. Industry veteran Mohandas Pai even accused organisers for promoting a wrong message.
A semiconductor design Startup founder posted on social media slamming Goyal for red tapes Start-ups face in India. "Your department sat on my application for over two years. It returned it to me last week asking for Additional documents," the founder wrote in Reddit post.
Aman Gupta co-founder of boAt said Goyal’s message was about pushing boundaries. He said Piyush Goyal isn’t against founders. He believes in us. "If you want to build a world-class product, you must know your competition. That applies to India too," Gupta posted.
Goyal has blamed the opposition, especially Congress, for twisting his words. He clarified that his goal wasn’t to insult startups but to inspire them to contribute to India’s future through advanced innovation
