Clash of Visions: Indian Startups Under Scrutiny

Commerce Minister Piyush Goyal criticized India's startup focus, prompting Zepto CEO Aadit Palicha to defend the ecosystem's economic impact and innovative contributions. Palicha emphasized the importance of supporting tech-driven local champions rather than dismissing efforts, advocating for long-term growth and innovation in the consumer internet sector.

Commerce Minister Piyush Goyal's critique of the Indian startup ecosystem has sparked significant debate, notably drawing a strong response from Zepto CEO Aadit Palicha.

Palicha, the prominent figure in the startup scene, robustly defended the industry's contributions, highlighting the jobs and foreign direct investment (FDI) it brings to the economy. He stressed the need for both government and capital owners to champion local tech enterprises rather than criticize their efforts.

The discourse arises as Goyal urged Indian startups to prioritize high-tech fields rather than sectors like grocery delivery. In response, Palicha pointed out the critical role of consumer internet companies in driving tech innovation, calling for a supportive ecosystem to foster revolutionary tech growth.

(With inputs from agencies.)