Giving Fancy Packaging to Ice-Creams & Cookies is Not Start-up: Piyush Goyal
The Indian startup ecosystem has been buzzing with new ideas and innovations, but Union Minister of Commerce and Industry, Piyush Goyal, recently emphasized the importance of substance over style. Speaking at the Startup Mahakumbh 2025, Goyal made a thought-provoking statement that has sent shockwaves through the startup community. According to him, simply giving fancy packaging to ice-creams and cookies is not what defines a start-up. Instead, it is entrepreneurship and a business model that truly matter.
Goyal’s comment serves as a wake-up call for many entrepreneurs who are more focused on the aesthetics of their product rather than its core value proposition. In today’s fast-paced business environment, it is essential to have a solid foundation and a clear understanding of your target market and competitive landscape.
The minister’s statement was made in the context of the Indian startup ecosystem’s growing concerns about the lack of innovation and depth in the industry. According to Goyal, the country’s deep-tech space has only 1,000 start-ups, which is a disturbing situation. He emphasized that start-ups in other nations are focused on cutting-edge technologies like AI and 3D printing, which are driving innovation and growth.
Goyal’s comment is not just a criticism of the Indian startup ecosystem; it is also a call to action for entrepreneurs to focus on creating meaningful products and services that solve real-world problems. In recent years, India has seen a surge in the number of startups, but many of them have been focused on offering me-too products and services, rather than creating something truly innovative.
The minister’s emphasis on entrepreneurship and business model highlights the importance of having a solid understanding of your target market, competition, and financials. Many entrepreneurs often get caught up in the excitement of launching a new product or service, but forget to conduct thorough market research and create a sustainable business model.
Goyal’s statement is also a reminder that innovation is not just about creating a new product or service; it is also about creating a new business model or a new way of doing things. In today’s digital age, innovation is not just limited to creating a new app or a new gadget; it is also about creating new business models that disrupt traditional industries and create new opportunities.
The Indian startup ecosystem has made significant progress in recent years, but there is still a long way to go. The government has taken several initiatives to support startups, including the creation of new funding mechanisms and tax incentives. However, more needs to be done to create an ecosystem that fosters innovation and entrepreneurship.
Goyal’s comment serves as a reminder that entrepreneurship is not just about launching a new business; it is about creating a sustainable and scalable business model that creates value for customers and stakeholders. In today’s fast-paced business environment, it is essential to have a clear understanding of your target market, competition, and financials, and to focus on creating products and services that solve real-world problems.
In conclusion, Piyush Goyal’s statement that giving fancy packaging to ice-creams and cookies is not what defines a start-up is a timely reminder of the importance of substance over style in the startup ecosystem. As the Indian startup ecosystem continues to evolve, it is essential to focus on creating meaningful products and services that solve real-world problems, rather than just trying to create a new product or service for the sake of it.
Source: https://x.com/moneycontrolcom/status/1907795297826378009
