Commerce and Industry Minister Piyush Goyal on Thursday asked the Indian startup community to shift their focus from grocery delivery and ice cream making to to high tech sector like semiconductor, machine learning, robotics, and artificial intelligence.
Photograph: Dado Ruvic/Reuters
He also said there is a need for more Indian investors into the startup ecosystem.
“Are we going to be happy being delivery boys and girls… Is that the destiny of India… this is not startup, this is entrepreneurship… What other side is doing — robotics, machine learning, 3D manufacturing and next generation factories factories,” Goyal said in New Delhi at the Startup Mahakumbh, comparing the nature of Indian startups with that of Chinese.
The minister said the new startups should focus on preparing the nation for the future.
“Do we have to make ice cream or chips?” he asked.
He also underscored the evolving role of startups in driving India’s economic and technological growth.
He assured that the government will handhold and support those who face challenges in their startup journey, encouraging them to persevere and try again.
The minister stressed the need for increasing domestic capital investments, stating that a strong foundation of indigenous investment is crucial to reducing dependency on foreign capital and ensuring long-term economic resilience.
Goyal emphasised on the need to attract more domestic investors to strengthen India’s capital base and ensure self-reliance.
