NEW DELHI: Indian startups are focusing on food delivery apps, turning unemployed youth into cheap labour, while Chinese startups are working on electric mobility, battery technology, and building chips and AI models, commerce and industry minister Piyush Goyal said on Thursday as he asked them to become bolder and bigger.
"Some people may criticise me for comparing Indian startups with another country's startup; I don't mind it; we have to be willing to evolve, we have to be willing to learn, we want to aspire to be bigger and better and we have to be bolder," Goyal said at the Start-up Mahakumbh event.
He said Indian startups must up their game and focus on sectors such as deeptech, battery and electric mobility if India aims to become the largest startup ecosystem in the world.
Highlighting the role of startups in making India a Viksit Bharat by 2047, he said the country will only get there if Indian startups innovate in robotics, machine learning and automation, and explore technologies like 3D printing to make manufacturing efficient.
Goyal further said that within the deeptech ecosystem in India, around 1,000 startups exist, which is a disturbing sign and if India needs to be recognised globally, we can't restrict to "wealth creation in the short run which may happen with some of these conveniences."
Indian startups are not the best yet and need to pivot towards high-value sectors, he said. India has 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade as of January 15 this year.
Goyal also said that India, under PM Modi's leadership, is not aiming small, "not looking at (trade) agreements with countries who are in situations worse than what India is in, that was Congress culture. What PM Modi does is agreement with Australia, aspiring to do an agreement with the EU, UK, US, New Zealand, Oman, Bahrain and Qatar, because we want to compete with the best of the world," he said.
"Some people may criticise me for comparing Indian startups with another country's startup; I don't mind it; we have to be willing to evolve, we have to be willing to learn, we want to aspire to be bigger and better and we have to be bolder," Goyal said at the Start-up Mahakumbh event.
He said Indian startups must up their game and focus on sectors such as deeptech, battery and electric mobility if India aims to become the largest startup ecosystem in the world.
Highlighting the role of startups in making India a Viksit Bharat by 2047, he said the country will only get there if Indian startups innovate in robotics, machine learning and automation, and explore technologies like 3D printing to make manufacturing efficient.
Goyal further said that within the deeptech ecosystem in India, around 1,000 startups exist, which is a disturbing sign and if India needs to be recognised globally, we can't restrict to "wealth creation in the short run which may happen with some of these conveniences."
Indian startups are not the best yet and need to pivot towards high-value sectors, he said. India has 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade as of January 15 this year.
Goyal also said that India, under PM Modi's leadership, is not aiming small, "not looking at (trade) agreements with countries who are in situations worse than what India is in, that was Congress culture. What PM Modi does is agreement with Australia, aspiring to do an agreement with the EU, UK, US, New Zealand, Oman, Bahrain and Qatar, because we want to compete with the best of the world," he said.
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