Ashneer Grover, former co-founder and managing director of BharatPe, has slammed Union Minister Piyush Goyal for his criticism of India’s startup ecosystem, arguing that it is politicians, not entrepreneurs, who need to reassess their priorities.
"The only people in India who need a ‘reality check’ are its politicians. Everyone else is living in the absolute reality of India," Grover posted on X. He defended the rise of consumer-tech startups, pointing out that even China started its tech boom with food delivery firms before advancing into deep-tech industries.
"China also had food delivery first and then evolved to deep tech. It’s great to aspire for what they’ve done – maybe time for politicians to aspire for 10%+ economic growth rate for 20 years flat before chiding today’s job creators," he said.
In a veiled dig at the government’s political rhetoric, Grover added, "Maybe time to change ‘public discourse’ from history to science! Thanks Minister sir for starting this healthy debate."
Goyal questions India’s startup culture
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 ₹25 lakh or ₹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.
Industry leaders push back
Goyal’s comments have sparked backlash from several prominent figures in the startup ecosystem.
Zepto CEO Aadit Palicha defended the role of consumer-tech startups, saying, "It’s easy to point fingers and say food delivery or quick commerce is not tech… but the reality is, building a company that solves real problems at scale is technology."
Palicha also called for greater government backing. "The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there."
Former Infosys CFO Mohandas Pai also criticised Goyal’s comparison of Indian startups to those in China, arguing that the government itself was failing to support deep-tech innovation.
"These are bad comparisons. Piyush Goyal should not belittle our startups but ask himself what has he done as our Minister to help deep-tech start-ups grow in India?" he wrote on X.
Pai pointed to systemic issues holding back innovation, such as the taxation policies and restrictive investment rules. "We have a hostile Finance Minister who harassed start-ups on Angel tax for many years… Insurance companies still do not invest, whereas they do globally. The RBI regularly harasses overseas investors on remittances."
Goyal’s remarks have reignited debate on the future of India’s startup ecosystem. While critics argue that convenience-based startups are holding back technological advancement, industry leaders maintain that these businesses play a crucial role in economic growth and job creation.
As India continues its push towards becoming a global tech powerhouse, the conversation has made one thing clear—entrepreneurs want support, not scepticism, from those in power.
"The only people in India who need a ‘reality check’ are its politicians. Everyone else is living in the absolute reality of India," Grover posted on X. He defended the rise of consumer-tech startups, pointing out that even China started its tech boom with food delivery firms before advancing into deep-tech industries.
"China also had food delivery first and then evolved to deep tech. It’s great to aspire for what they’ve done – maybe time for politicians to aspire for 10%+ economic growth rate for 20 years flat before chiding today’s job creators," he said.
The only people in India who need a ‘reality check’ are it’s politicians. Everyone else is living in the absolute reality of India.
— Ashneer Grover (@Ashneer_Grover) April 4, 2025
China also had food delivery first and then evolved to deep tech. It’s great to aspire for what they’ve done - maybe time for politicians to aspire… pic.twitter.com/6WT8moviAz
In a veiled dig at the government’s political rhetoric, Grover added, "Maybe time to change ‘public discourse’ from history to science! Thanks Minister sir for starting this healthy debate."
Goyal questions India’s startup culture
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 ₹25 lakh or ₹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.
Industry leaders push back
Goyal’s comments have sparked backlash from several prominent figures in the startup ecosystem.
Zepto CEO Aadit Palicha defended the role of consumer-tech startups, saying, "It’s easy to point fingers and say food delivery or quick commerce is not tech… but the reality is, building a company that solves real problems at scale is technology."
Palicha also called for greater government backing. "The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there."
Former Infosys CFO Mohandas Pai also criticised Goyal’s comparison of Indian startups to those in China, arguing that the government itself was failing to support deep-tech innovation.
"These are bad comparisons. Piyush Goyal should not belittle our startups but ask himself what has he done as our Minister to help deep-tech start-ups grow in India?" he wrote on X.
Pai pointed to systemic issues holding back innovation, such as the taxation policies and restrictive investment rules. "We have a hostile Finance Minister who harassed start-ups on Angel tax for many years… Insurance companies still do not invest, whereas they do globally. The RBI regularly harasses overseas investors on remittances."
Goyal’s remarks have reignited debate on the future of India’s startup ecosystem. While critics argue that convenience-based startups are holding back technological advancement, industry leaders maintain that these businesses play a crucial role in economic growth and job creation.
As India continues its push towards becoming a global tech powerhouse, the conversation has made one thing clear—entrepreneurs want support, not scepticism, from those in power.
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