“In the last few months I have met a few deep-tech cos that have absolutely blown me away. From AI & space-tech to material science, Indian entrepreneurs are ready to take on the world. But capital & the eco-system for growth & commercialization are severely lacking. Founders can do most things but not EVERYTHING,” said Mittal in response to recent statements of Piyush Goyal at an event.
Check Mittal’s post here:
What did Piyush Goyal say about Shark Tank?
Piyush Goyal recent called for more investment from Indian investors to support the country’s startup ecosystem.
“Aman Gupta, change your perspective in Shark Tank,” said Piyush Goyal. He directly addressed mentors from the popular show Shark Tank India and appealed to them to support sustainable and value-driven companies. “Aman Gupta, change your perspective in Shark Tank,” Goyal said. He questioned the trend of startups focusing mainly on quick delivery services and low-value products.
Grover’s remarks come in response to Goyal’s comments at the Startup Mahakumbh event, where the Union Commerce Minister questioned whether Indian startups were focusing too much on convenience-based business models rather than technological breakthroughs.
“Are we going to be happy being delivery boys and girls?” Goyal asked, criticising the dominance of food delivery and fantasy sports apps. He suggested that India should aspire to lead in emerging technologies such as AI, semiconductors, and EVs instead of celebrating consumer apps that primarily serve urban convenience.
“Do we have to make ice cream or chips? Dukaandari hi karna hai?” he remarked, calling on young entrepreneurs to dream bigger.
He also took issue with the gig economy, arguing that food delivery startups were “turning unemployed youths into cheap labour so the rich can get their meals without moving out of their house.”
Goyal further expressed concern over the trend of promising Indian startups selling out to foreign firms too early. “I feel sad when I come to know that for Rs 25 lakh or Rs 50 lakh, a bright idea of a young startup got sold to a foreign company,” he said, urging founders to build long-term value instead of seeking quick exits.
