Piyush Goyal Urges Startups to Prioritize High-Tech Sectors Over Chips and Ice Cream

Piyush Goyal Urges Startups to Focus on High-Tech Sectors Over Delivery and Ice Cream

Commerce and Industry Minister Piyush Goyal on Thursday called on India's startup community to shift their focus from traditional businesses like grocery delivery and ice cream making to high-tech sectors such as semiconductors, machine learning, robotics, and artificial intelligence.

Speaking at Startup Mahakumbh, Goyal compared Indian startups with their Chinese counterparts, urging entrepreneurs to embrace innovation in cutting-edge fields. "Are we going to be happy being delivery boys and girls? Is that the destiny of India? This is not startup, this is entrepreneurship," he remarked, emphasizing the need for a future-driven approach.

He also stressed the importance of domestic investment in the startup ecosystem, highlighting the need to reduce reliance on foreign capital. "A strong foundation of indigenous investment is crucial for India's long-term economic resilience," he said, encouraging more Indian investors to back the country's startups.

Assuring government support, Goyal encouraged entrepreneurs to persevere through challenges, reaffirming that India’s startup ecosystem must evolve to lead in global technological advancements.