Union Commerce Minister Piyush Goyal, speaking at Startup Mahakumbh 2025 on March 4, stressed India’s potential in deep technology, artificial intelligence, and data analytics. He expressed confidence in the country’s ability to make a mark on the global stage.
“This is the base. This is the foundation on which I am confident India will foray in a very big way into the world of innovation. We will make our presence felt at the global stage on products of deep significance whether it is deeptech, AI, machine learning, or how we can do data analytics smarter and better,” he said.
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Goyal praised the efforts of Indian startups, stating, “I go back extremely satisfied with the work done by our young startups. I am very confident that my message to the startups has been received, except some Congress party handles who are hell-bent on manufacturing a controversy where there is none. By and large, the feedback I have received is young India is raring to go and they are ready to capture the world.”
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He also urged Indian investors to recognize the potential within the country’s startup ecosystem. “The time has come for the investors of India to recognize that this entire startup ecosystem has a lot of potential, our young people are doing excellent work in it. To take it to the next level, I feel that the involvement of Indian investors and people will give it a faster pace,” he added.
Goyal, on April 3, took a more critical stance, comparing Indian startups to their Chinese counterparts and stating that domestic firms lack innovation. He specifically criticised food delivery companies, arguing that they “are turning unemployed youth into cheap labour so (the) rich can get their meals without moving out of the house.”
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Despite his recent critique, Goyal has previously praised India’s startup landscape. On June 22, 2024, he posted on X: “Young and vibrant minds are fuelling India's startup space with innovative digital solutions that enhance ease of living and generate employment opportunities for our large talent pool,” following his meeting with Zepto co-founder Aadit Palicha.
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