Union Commerce and Industry Minister Piyush Goyal on Wednesday addressed the controversy surrounding his remarks at the Startup Mahakumbh earlier this year, describing the backlash as largely driven by what he called “perpetual haters of the Modi government.” Speaking at the TiECon Delhi 2025, Goyal said that while the criticism initially felt sharp, it ultimately served as a “wake-up call” for India’s startup ecosystem, spurring deeper conversations on innovation and the country’s entrepreneurial direction.

Goyal recounted that his remarks at the Bharat Mandapam event in April were spontaneous and not part of any prepared speech. He had received a WhatsApp slide comparing Indian and Chinese startups, which prompted him to comment on the state of India’s entrepreneurial landscape. “I had just received a WhatsApp message showing a slide comparing Indian and Chinese startups…Soon after my comments, there was a flurry of attack on me. But I realised that most of those who attacked me were either perpetual haters of the Modi government or people who attack us irrespective of what we do,” he said. He added that he felt vindicated when he observed young entrepreneurs resonating with his perspective in subsequent interactions.

At the Startup Mahakumbh, Goyal had drawn criticism for questioning whether India’s startup space had become shallow and over-focused on quick-service ventures. Using the slide, he noted the prevalence of food delivery apps and other consumer-focused businesses, questioning whether such enterprises were turning unemployed youth into cheap labor while creating wealth for a select few. He contrasted this with China’s focus on strategic technologies such as semiconductor chips and electric vehicle batteries, urging India to prioritize innovation-driven and technologically significant startups over short-term commercial ventures.

Goyal explained that the backlash prompted by his comments ultimately sparked a broader discussion within the entrepreneurial community about the importance of building serious, innovation-focused companies. He highlighted that the government’s upcoming initiatives are aimed at nurturing such ventures, particularly in deeptech and high-tech areas. The second edition of the Startup Fund of Funds, he said, will prioritize early-stage investments that enable founders to retain ownership, rather than selling large stakes to foreign investors.

Further expanding on India’s innovation ecosystem, Goyal referenced the forthcoming Anusandhan National Research Fund, a ₹1 lakh crore initiative designed to support research and innovation across the country. He emphasized that the program’s potential impact could be equivalent to nearly $100 billion of research in the US or Europe, due to India’s cost advantage and abundant technical talent. These initiatives, Goyal argued, are central to India’s broader goal of technological self-reliance. “The spirit of Swadeshi is not just about making in India or designing in India, it’s essential for our sovereignty,” he said, underlining the strategic importance of reducing dependence on foreign technologies, weapons, and energy sources.

Goyal also spoke about India’s evolving role in the global economy, urging the country to shift from being the world’s back office to becoming a hub of innovation. Drawing an analogy to a ship, he said, “A ship is safe in the harbour, but that’s not what it’s meant for. India is a ship that was never meant to stay anchored. Our 1.4 billion enterprising Indians are meant to play a big role at the global level.”

Highlighting India’s potential to attract global investment, he pointed to the country’s large pool of STEM graduates and its growing capabilities in deeptech sectors. “The ball is in our court to perform,” he said. “India must move away from being just the back office of the world to becoming a global engine of innovation.”

Overall, Goyal positioned his remarks not merely as criticism of existing trends in the startup ecosystem but as a clarion call for a recalibration of India’s entrepreneurial ambitions. He stressed that the government’s focus on deeptech investment, innovation-led growth, and technological self-reliance is meant to empower a new generation of entrepreneurs to compete globally and contribute meaningfully to India’s economic and strategic strength.

Through his speech, Goyal reaffirmed the government’s commitment to nurturing high-impact startups while ensuring that India’s youth are engaged in ventures that advance both national priorities and global competitiveness. He underscored that constructive debate, even when uncomfortable, can catalyze meaningful reforms and set the stage for a stronger, more resilient startup ecosystem.

In conclusion, Goyal framed the controversy over his Startup Mahakumbh comments as a moment of reflection and opportunity. He encouraged entrepreneurs, investors, and policymakers to embrace challenges as a catalyst for growth, while reinforcing the government’s dedication to creating a supportive environment for serious, high-technology startups that could drive India’s emergence as a global innovation powerhouse.