Union Minister Piyush Goyal’s sharp critique at the Startup Mahakumbh has ignited a widespread debate within India’s startup ecosystem.
His comment, “Dukaandari ka hi kaam karna hai humein?”, Went viral, questioning the country’s focus on delivery services and gaming apps while urging a shift towards deep tech innovations such as AI, semiconductors, and electric vehicles.
Labelling the current trend as “just entrepreneurship,” Union Minister Piyush Goyal emphasized the need to build future-oriented solutions instead of relying on quick commerce and gig-based models.
His remarks sparked mixed reactions from leading founders and industry veterans.
Zepto’s CEO Aadit Palicha defended consumer-facing ventures, highlighting job creation, significant tax contributions, and investment in supply chain infrastructure as evidence of impactful innovation.
Zoho’s Sridhar Vembu supported the minister’s call as a motivational challenge, encouraging engineers to develop cutting-edge technology independently and sustainably.
Ashneer Grover, former BharatPe co-founder, pointed out that ecosystems evolve—China too began with consumer services before progressing to deep tech. He urged leaders to promote long-term economic growth and innovation-friendly policies.
Former Infosys CFO Mohandas Pai criticized systemic barriers, including restrictive regulations and limited funding access, as major hurdles for deep tech growth in India.
Startup founder Vironika added that building a deep tech culture requires patience, mindset shifts, and consistent support from stakeholders across the board.
The conversation sparked by Goyal has led to introspection and renewed urgency among founders to balance short-term success with long-term innovation.
The path forward, they say, demands both visionary goals and structural reforms.
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