From Ice Cream to AI: A New Startup Vision for India

Commerce and Industry Minister Piyush Goyal urges Indian startups to pivot from low-tech solutions to high-tech sectors like robotics and AI. He emphasizes the importance of domestic investment for sustainable growth, comparing Indian startups to China's in terms of innovation and technological advancement.

During a significant address at the Startup Mahakumbh, Commerce and Industry Minister Piyush Goyal challenged the Indian startup landscape to transition from focusing on short-term low-tech services like grocery delivery to embracing high-tech innovations such as robotics, artificial intelligence, and machine learning.

Goyal highlighted the urgent need to increase domestic investments in startups, suggesting that a robust foundation of indigenous capital is essential for sustaining long-term economic growth and resilience. He noted the contrast between Indian and Chinese startup dynamics, urging Indian entrepreneurs to advance technologically.

The minister assured governmental support to startups facing challenges, emphasizing perseverance and innovation as key to driving India's future economic and technological success. By attracting more domestic investors, India can strengthen its capital base and strive for greater self-reliance in the global market.

(With inputs from agencies.)