Indian Startups Defend Tech Role Amid Minister's Critique

Commerce Minister Piyush Goyal's critique of Indian startups has spurred entrepreneurs to unite in highlighting their ecosystem's innovation and economic contributions. Prominent figures like Zepto's Aadit Palicha and Zoho's Sridhar Vembu emphasized the importance of supporting local champions and technology-led innovation despite challenges in scaling like China and the US.

In a response to Commerce Minister Piyush Goyal's recent critique of the Indian startup ecosystem, notable entrepreneurs rallied together to defend their industry's value and innovation. Figures such as Zepto CEO Aadit Palicha and Zoho's Sridhar Vembu voiced their support for technology-led growth, amidst a debate on the ecosystem's trajectory.

Palicha highlighted the significant contributions of consumer internet companies to economic progress and job creation, positioning them as crucial to spurring innovation. He called for the government's support in fostering 'local champions', instead of scrutinizing startups for focusing on sectors like grocery delivery.

Meanwhile, Vembu interpreted Goyal's comments as a motivational call for engineers and entrepreneurs to tackle ambitious projects and not a critique. Other industry veterans echoed these sentiments, emphasizing the potential and progressive steps necessary for scaling up India's startup ecosystem to meet global standards.

(With inputs from agencies.)