Title: Giving fancy packaging to ice-creams & cookies is not start-up: Piyush Goyal
The term “start-up” has become a buzzword in recent years, with many entrepreneurs and businesses trying to label themselves as start-ups to get a piece of the action. However, Union Minister of Commerce and Industry Piyush Goyal has a different take on the matter. According to him, giving fancy packaging to ice-creams and cookies doesn’t make it a start-up. Instead, it’s a business model, and true entrepreneurship requires a lot more than just a pretty packaging.
Goyal made these remarks at the recent Startup Mahakumbh 2025, a premier startup event in India. He emphasized that only a small percentage of start-ups in India’s deep-tech space is a worrying trend. The minister pointed out that start-ups in other countries are focused on cutting-edge technologies like artificial intelligence and 3D printing, whereas India is still struggling to catch up.
Goyal’s comments come at a time when the Indian startup ecosystem is grappling with issues like funding, talent acquisition, and regulatory hurdles. The minister’s words are a stark reality check for many entrepreneurs who are trying to make a name for themselves in the competitive startup landscape.
The term “start-up” has become synonymous with innovation, disruption, and entrepreneurship. However, Goyal’s remarks suggest that there is a need to redefine what constitutes a start-up. In today’s era of fast-paced technological advancements, it’s not enough to just have a new idea or a innovative product. A start-up needs to have a clear business model, a scalable product, and a strong team to execute it.
Goyal’s comments also highlight the need for Indian start-ups to focus on core technologies like AI, 3D printing, and data analytics. These technologies are not only in-demand but also have the potential to create high-impact jobs and drive economic growth. The minister’s emphasis on deep-tech start-ups is a clear indication that India needs to up its game in these areas to remain competitive in the global startup landscape.
The Indian startup ecosystem has seen tremendous growth in recent years, with many successful startups emerging in areas like e-commerce, fintech, and healthtech. However, the industry still faces significant challenges, including funding constraints, regulatory hurdles, and talent acquisition. The minister’s remarks are a reminder that start-ups need to focus on building sustainable businesses that can scale and create jobs.
In conclusion, Piyush Goyal’s comments serve as a reality check for many start-ups and entrepreneurs in India. It’s not enough to just have a fancy packaging or a new idea; a start-up needs to have a clear business model, a scalable product, and a strong team to execute it. The minister’s emphasis on deep-tech start-ups is a clear indication that India needs to focus on core technologies like AI, 3D printing, and data analytics to remain competitive in the global startup landscape.
News Source:
https://x.com/moneycontrolcom/status/1907795297826378009
