Piyush Goyal Advocates for Innovation and Domestic Investment at Startup Mahakumbh 2025

Addressing the critical role of domestic investments, Shri Goyal called for greater participation from Indian investors to support the country's growing startup ecosystem.

At the second edition of the Startup Mahakumbh in Delhi, Union Minister of Commerce & Industry, Shri Piyush Goyal, delivered a powerful address, underscoring the transformative role that emerging technologies will play in shaping India's economic future. Held from April 3-5, 2025, the event saw Shri Goyal emphasize the significance of innovations such as robotics, automation, machine learning, 3D manufacturing, and the development of next-generation factories. These technologies, he stated, are crucial for realizing India’s vision of becoming a developed nation by 2047, the centenary of its independence, and establishing the country as a global leader in industry and technological innovation.

The minister proudly highlighted India’s remarkable rise as the world’s third-largest startup ecosystem, attributing this achievement to the nation's vibrant entrepreneurial spirit and rapid technological advancements. He stated that the country's innovation-driven growth is steadily positioning India as a force to reckon with in the global economic landscape. With the startup ecosystem being a key driver of technological progress, Shri Goyal reiterated the importance of startups in pushing forward India’s economic and technological growth.

Addressing the critical role of domestic investments, Shri Goyal called for greater participation from Indian investors to support the country's growing startup ecosystem. He noted that attracting domestic capital is essential to fostering innovation within India and ensuring long-term economic resilience. While foreign investments have played an instrumental role in fueling India’s startup success, he stressed that reliance on indigenous funding would enhance self-reliance, reducing dependency on foreign sources of capital. The minister reassured the startup community that the government is committed to offering continuous support to entrepreneurs facing challenges and will assist them in overcoming obstacles on their journey.

In line with the government's vision, Shri Goyal emphasized the importance of increasing domestic investments in order to provide a solid foundation for India's future growth. He expressed confidence that with concerted efforts from both the government and private sector, the Indian startup ecosystem would continue to thrive and contribute significantly to the nation's prosperity. The minister urged Indian investors to look within the country and invest in homegrown talent and ideas, which will not only fuel innovation but also stimulate job creation and economic growth across India.

The Union Minister also took the opportunity to commend the contributions of the organizing committee, sponsors, and participants for making the event a grand success. Reflecting on the growth of the Startup Mahakumbh, Shri Goyal remarked that the event has evolved into a remarkable platform for fostering entrepreneurship and innovation, with increasing participation each year. He credited the event’s growth to India’s changing mindset and expanding innovation ecosystem, which continues to provide new opportunities for entrepreneurs from all corners of the country.

On the broader economic front, Shri Goyal shared an optimistic outlook on India’s economic trajectory. As the world’s fifth-largest GDP, India is expected to become the fourth-largest economy by the end of 2025 and the third-largest by 2027, surpassing Japan and Germany. He attributed this rapid economic growth to the country’s robust startup ecosystem, advancements in artificial intelligence, semiconductor manufacturing, and deep-tech innovations. With such a foundation, India is well on its way to becoming a global leader in technological innovations and a critical player in the international market.

As part of his vision for future editions of the Startup Mahakumbh, Shri Goyal proposed making the next event even bigger, aiming for participation from all 770 districts of India. To ensure wider representation and participation, he suggested launching a nationwide competition to identify and support young innovators from colleges and incubators across the country. This competition would aim to unearth talent from every region, ensuring that no corner of India is left behind in the drive for innovation and entrepreneurship.

With the government’s unwavering commitment to fostering innovation, India’s startup ecosystem looks set to thrive even further, driving the nation towards a future of self-reliance, prosperity, and global leadership in technological advancement. As India moves closer to realizing its vision of 'Viksit Bharat 2047', the country's rapidly evolving startup sector will undoubtedly be a cornerstone of this transformation.