Piyush Goyal Budges Startups To Focus On High-Tech Sectors

(MENAFN- KNN India) New Delhi, Apr 4 (KNN) Union Commerce and Industry Minister Piyush Goyal called on Indian startups to shift their focus towards high-tech industries such as semiconductors, artificial intelligence, robotics, and machine learning.

Speaking at the inauguration of the second edition of Startup Mahakumbh at Bharat Mandapam, New Delhi, he emphasized the need for a technologically driven entrepreneurial ecosystem.

Addressing the audience, Goyal highlighted the importance of innovation beyond conventional businesses like grocery delivery and ice cream manufacturing.“Are we going to be happy being delivery boys and girls? Is that the destiny of India? This is not startup; this is entrepreneurship,” he remarked, drawing comparisons with China's technological advancements.

The Minister urged startups to contribute towards India's future by building capabilities in advanced manufacturing and next-generation industries. He stressed the need to develop indigenous capital investment to reduce reliance on foreign funds and ensure long-term economic resilience.

“Do we have to make ice cream or chips?” he asked, underscoring the necessity of prioritizing high-value technological solutions over traditional business models.

Furthermore, Goyal reassured young entrepreneurs that the government is committed to supporting them through challenges. He encouraged them to persist in their efforts, assuring them of the necessary backing from policymakers.

He also emphasized the importance of increasing domestic investments in the startup ecosystem.“A strong foundation of indigenous investment is crucial for self-reliance and economic sustainability,” he stated.

Startup Mahakumbh serves as a platform to connect budding entrepreneurs with investors, industry leaders, and policymakers, fostering collaboration and innovation in India's startup landscape.

(KNN Bureau)

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