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 that giving fancy packaging to ice-creams and cookies doesn’t necessarily make it a start-up. According to him, it’s entrepreneurship and a business model that truly defines a start-up. This statement has sparked a heated debate among entrepreneurs, investors, and policymakers, highlighting the need to redefine the term ‘start-up’ in today’s business landscape.
Goyal’s statement comes at a time when the Indian start-up ecosystem is rapidly growing, with new businesses emerging in various sectors, including e-commerce, fintech, and healthtech. However, the Minister’s comments suggest that the country needs to focus on creating more meaningful and impactful start-ups that drive innovation and economic growth.
The Minister’s criticism of fancy packaging as a defining feature of a start-up is not without merit. In recent years, we have seen a surge in start-ups that offer unique and Instagram-worthy packaging, often at the expense of substance. These start-ups may attract attention and followers on social media, but they often lack a clear business model, sustainable revenue streams, and a meaningful impact on society.
Goyal’s comments also highlight the need for start-ups to focus on deep-tech areas, such as artificial intelligence (AI) and 3D printing. These emerging technologies have the potential to transform industries and create new business opportunities, but they require significant investment in research and development, talent acquisition, and infrastructure development.
Unfortunately, India’s start-up ecosystem appears to be lagging behind in these areas. According to Goyal, only 1,000 start-ups in India’s deep-tech space is a disturbing situation. This is a stark contrast to other nations, where start-ups are focused on AI and 3D printing, and are driving innovation and economic growth.
Goyal’s statement is a wake-up call for Indian entrepreneurs, policymakers, and investors to rethink their approach to start-ups. Instead of focusing on fancy packaging and superficial innovation, we need to encourage and support start-ups that are focused on solving real-world problems, creating meaningful value, and driving economic growth.
So, what does it mean to be a start-up in today’s business landscape? According to Goyal, a start-up is not just about fancy packaging or unique offerings. It’s about creating a business model that is scalable, sustainable, and impactful. It’s about identifying a real-world problem and developing a solution that addresses that problem. It’s about building a team of talented individuals who share a common vision and are committed to making a difference.
In conclusion, Piyush Goyal’s statement is a timely reminder that giving fancy packaging to ice-creams and cookies is not a start-up. It’s entrepreneurship and a business model that truly defines a start-up. As we move forward, it’s essential that we focus on creating more meaningful and impactful start-ups that drive innovation and economic growth. We need to support start-ups that are focused on deep-tech areas, such as AI and 3D printing, and that are committed to solving real-world problems.
Source: https://x.com/moneycontrolcom/status/1907795297826378009
