After Piyush Goyal’s Startups Jab Stirs Debate, Support From boAT Founder Aman Gupta

Aman Gupta, co-founder of boAT, has stepped into the controversy over India’s startups with a message of solidarity for Union Commerce Minister Piyush Goyal, whose current remarks drew each criticism and concern from throughout the startup ecosystem.

“It isn’t on daily basis that the federal government asks founders to dream greater,” Mr Gupta stated in a press release, following Mr Goyal’s feedback. “I used to be there. I heard the complete speech. Piyush Goyal ji is not towards founders. He believes in us. His level was easy: India has come far, however to guide the world…we have to goal larger.”

It isn’t on daily basis that the federal government asks founders to dream greater.

However at Startup Mahakumbh, that is precisely what occurred. I used to be there. I heard the complete speech. Hon. Minister @PiyushGoyal Ji is not towards founders. He believes in us.His level was easy: India has come far,… pic.twitter.com/bA4ontAz1M

— Aman Gupta (@amangupta0303) April 6, 2025

Mr Gupta’s assertion comes within the wake of Mr Goyal’s remarks on the occasion Startup Mahakumbh. The minister had questioned whether or not India ought to be content material with growing apps that ship groceries or ice cream, particularly when Chinese language startups are investing in semiconductors, EVs, and AI. 

“We’re making meals/hyper supply apps; creating low-cost labour so the wealthy can have a meal with out stepping out, whereas the Chinese language are engaged on AI (synthetic intelligence), EVs (electrical autos), and semiconductors. Ought to we make ice cream (supply apps) or make chips (i.e., semiconductors)? Dukaandari hello karna hai (Can we simply need to promote issues)? Mr Goyal requested on the occasion. 

Whereas a number of outstanding entrepreneurs responded with defensive or important takes on Mr Goyal’s feedback, the boAT chief interpreted the minister’s deal with as a motivational name for ambition. Drawing a parallel from his personal expertise on the truth present Shark Tank India, he stated, “If you wish to construct a world-class product, you have to know your competitors. That applies to India too.”

His assertion stood in sharp distinction to reactions from others within the startup group who took problem with Mr Goyal’s remarks. 

The feedback drew hearth from Zepto co-founder Aadit Palicha, who launched into an in depth defence of shopper web startups like his personal. In a LinkedIn publish, Mr Palicha cited job creation, tax contributions, and international funding as proof of actual financial worth. “Nearly 1.5 lakh actual individuals are incomes livelihoods on Zepto immediately,” he stated. “If that is not a miracle in Indian innovation, I truthfully do not know what’s.”

Mr Palicha additionally argued that lots of the world’s largest expertise corporations – Amazon, Fb, Tencent – started as shopper web platforms earlier than evolving into deeper tech ventures. “Most technology-led innovation over the previous twenty years has originated from shopper web corporations,” he wrote. “We have to construct nice native champions… not pull down groups which can be attempting arduous to get there.”

Former Infosys CFO Mohandas Pai urged the federal government to assist startups somewhat than solid doubt. “India has startups in all these areas [deep tech] too, however they’re small. Minister Piyush Goyal mustn’t belittle our startups however ask himself what he has executed to assist them,” he stated, including that the startup ecosystem had been traditionally hampered by coverage hurdles just like the Angel Tax and regulatory constraints from establishments just like the Reserve Financial institution of India.

Others, like Shaadi.com founder Anupam Mittal, acknowledged the potential of Indian startups however pointed to the necessity for higher assist. “In the previous few months, I’ve met a couple of deep-tech corporations which have completely blown me away,” he stated. “However capital and the ecosystem for progress and commercialisation are severely missing.”

In a extra pointed response, former BharatPe managing director Ashneer Grover famous that even China started with shopper companies earlier than constructing out its deep-tech business. “China additionally had meals supply first after which advanced to deep tech. It is nice to aspire to what they’ve done-but possibly time for politicians to aspire for 10%+ financial progress for 20 years flat earlier than chiding immediately’s job creators,” he posted.

Regardless of the pushback, Mr Goyal defended his remarks, arguing that they’d been misinterpreted-particularly by the Opposition. 

“My message for startups has been obtained positively besides by some Congress celebration social media handles who’re hell-bent on manufacturing an argument. The younger Indians are able to seize the world,” he stated. 

The Congress accused the minister of contradicting the federal government’s pro-startup narrative, claiming on social media that Mr Goyal had “admitted India’s startup struggles” and uncovered “the lies of Prime Minister Narendra Modi on startups.”