Indian Startup Crisis

Piyush Goyal, the Indian Minister of Commerce and Industry, has recently come under the limelight for his views regarding the Indian startup world.

Speaking his mind on X, the minister took a jibe at the increasing number of food delivery, instant grocery, and Fancy ice cream and cookie startups, comparing the dwindling situation to that of China’s fantastic focus on Semiconductors and AI.

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The minister said, “Are we happy about being delivery girls and boys? Food delivery apps are turning unemployed youth into cheap labour so rich can get their meals without moving out of the house. Kids of billionaires are making fancy ice cream/cookies and calling it a startup.”

While berating the budding startups of one’s own nation can’t be fully justified, Piyush Goyal’s statements do reflect the urgent need for a paradigm shift in the Indian startup culture.

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India needs to see more AI, Semiconductor, Logistics, and Deep Tech companies to make sure the nation becomes future-proof in terms of job security.

It will be interesting to see how well this issue gets tackled in the future now that the matter is open fair and square before those in power.

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