Giving fancy packaging to ice-creams & cookies is not start-up: Piyush Goyal
In a recent statement at Startup Mahakumbh 2025, Union Minister of Commerce and Industry Piyush Goyal emphasized the importance of genuine entrepreneurship and business models, dismissing the notion that merely giving fancy packaging to ice-creams and cookies constitutes a start-up. His remarks came as a wake-up call for the Indian startup ecosystem, which has been grappling with the definition of a start-up and its relevance in the modern business landscape.
Goyal’s statement was a stern rebuke to those who believe that any business with a fancy packaging or a novel product is automatically a start-up. He stressed that a start-up requires more than just a unique idea or a stylish presentation. Instead, it demands a robust business model, innovative thinking, and a willingness to take calculated risks.
The Minister’s comments were in response to the growing trend of entrepreneurs in India focusing on creating products with flashy packaging, rather than developing innovative solutions that disrupt traditional industries. Goyal acknowledged that this approach might be successful in the short term, but it lacks the depth and substance required to create a sustainable and scalable business.
Furthermore, Goyal expressed his concern about the limited scope of Indian startups, particularly in the deep-tech space. He lamented that only about 1,000 startups in India are focused on AI, 3D printing, and other cutting-edge technologies, which is a disturbingly low number compared to other nations. He emphasized that Indian startups need to catch up with global trends and focus on developing innovative solutions that can have a significant impact on the world.
Goyal’s remarks were met with widespread agreement from industry experts and entrepreneurs who have been advocating for a more nuanced understanding of what constitutes a start-up. Many have pointed out that the term “start-up” has become increasingly diluted, with many businesses using it as a buzzword to attract investors and talent.
The Minister’s emphasis on entrepreneurship and business models is a timely reminder that start-ups are not just about creating a new product or service, but about developing a sustainable and scalable business that can create value for customers, employees, and investors.
In recent years, India has seen a surge in the number of startups, with many entrepreneurs and investors flocking to the country to tap into its rapidly growing consumer market. However, this growth has also led to a proliferation of low-quality startups that lack a clear business model or innovative technology.
Goyal’s statement is a call to action for Indian startups to focus on developing genuine innovation and entrepreneurship, rather than simply relying on flashy packaging or novel products. He emphasized that start-ups need to be focused on solving real-world problems, creating value for customers, and driving growth and employment in the economy.
The Minister’s remarks were also seen as a warning to investors and entrepreneurs who are looking to make quick profits by creating a start-up. Goyal stressed that investors need to be discerning and focus on backing startups that have a clear business model, innovative technology, and a strong potential for growth.
In conclusion, Piyush Goyal’s statement at Startup Mahakumbh 2025 was a much-needed wake-up call for the Indian startup ecosystem. His emphasis on entrepreneurship and business models is a reminder that start-ups are not just about creating a new product or service, but about developing a sustainable and scalable business that can create value for all stakeholders.
Source: https://x.com/moneycontrolcom/status/1907795297826378009
