At the Startup Maha Kumbh, Union Commerce Minister Piyush Goyal expressed disappointment with India's startup ecosystem for prioritizing food delivery, betting, and fantasy sports apps. He urged Indian startups to follow the lead of Chinese startups, which are excelling in areas such as electric vehicles, battery technology, semiconductors, and artificial intelligence. Goyal questioned whether India should settle for low-wage gig jobs or strive for technological progress. Despite having over 100 unicorns, India's third-largest startup hub, Goyal's remarks raise concerns about the country's focus on certain industries and its potential for innovation and development in other areas.
Union Commerce Minister Piyush Goyal's criticism of India's startup ecosystem has faced resistance from industry leaders, who argue for the importance of government support in fostering local champions in the technology sector. Zepto CEO Aadit Palicha and former Infosys executive Mohandas Pai were among those who pushed back against Goyal's assertions at the Startup Maha Kumbh event, emphasizing the need for long-term growth and support for startups rather than just quick exits. Business leaders push back against Union Commerce Minister Piyush Goyal's criticism of India's startup ecosystem at the Startup Maha Kumbh event. They argue for the importance of fostering local champions in the technology sector and urge for government support to help achieve this goal. Goyal had questioned whether the country's startups were truly driving progress, citing a heavy focus on food delivery and low-wage gig jobs.
The three-day Startup Mahakumbh, inaugurated by Commerce and Industry Minister Piyush Goyal, is set to bring together 3,000 startups, over 1,000 investors, and 10,000 delegates from 50 countries. With a focus on fostering collaboration and innovation, this event will lay the groundwork for the future success of entrepreneurs. The second edition, set to take place in 2025, will feature participation from tribal entrepreneurs and showcase the growth of the Indian startup ecosystem.
The 2025 edition of the student event in Hyderabad had its highest-ever participation with 85 registrations. Attendees enjoyed performances from popular Indian artists and engaged in panel discussions with industry leaders. The event also showcased innovative projects from student teams, highlighting the future impact of technology and passion in the entertainment industry.
The Indian government's 'Make in India' initiative, launched in 2014, has proven successful in promoting manufacturing, increasing exports, and boosting investments. With multiple measures in place such as production linked incentive schemes and single-window approvals, the country's capacity in various sectors has been strengthened. Prime Minister Narendra Modi and Commerce and Industry Minister Piyush Goyal have both emphasized their commitment to continue encouraging 'Make in India' and furthering reforms to drive growth and development.
Indian telecommunications company Bharti Global, led by Sunil Bharti Mittal, has acquired a 24.5% stake in BT Group, making it the largest shareholder in the UK-based telecom giant. This deal solidifies Bharti's position in the UK market and marks their first major investment in a developed market. Bharti's long-term strategic approach to the deal highlights the potential for future growth and synergy opportunities, and has been praised by Indian Commerce and Industry Minister Piyush Goyal.
The second day of the Budget debate in Parliament saw heated exchanges between the Opposition and BJP, as they clashed over the fiscal plan presented by Finance Minister Nirmala Sitharaman. Opposition member Charanjit Singh Channi accused the government of putting its own interests above the country's and questioned why there couldn't be a legal guarantee for MSP. Meanwhile, BJP minister Piyush Goyal praised the Budget, with fellow party member Baijayant Panda defending Sitharaman against criticism of her qualifications and highlighting the positive impact of the government's fiscal management on job creation and employability.
Union Commerce Minister Piyush Goyal has announced a significant increase in India's exports, citing improved trade relations and policies. Along with this positive news, there has also been an improvement in the country's stock market and investment tracking, indicating a boost in the economy. Experts predict this trend to continue, making it a promising time for investors and the business sector.
Shri Piyush Goyal officially took charge of the Ministry of Commerce and Industry for his second consecutive term. At a review meeting, he emphasized the importance of collaboration and directed his team to focus on research and development, improving public-private partnerships, and ensuring integrity, speed, skill, and scale in their work. With a renewed commitment to driving economic growth and fostering international trade, the Minister expressed hope to lead the Ministry of Commerce and Industry towards new heights, ensuring that India's progress remains steadfast and inclusive.
Amidst the excitement of monsoon's early arrival and heavy rainfall in Mumbai and nearby areas, NCP leader Praful Patel reveals that he refused a lesser position of Minister of State with independent charge in the upcoming Modi 3.0 Cabinet. This move has caused some internal tension, with party member Sunil Tatkare also not receiving a Cabinet berth. However, other Maharashtra politicians, such as BJP's Nitin Gadkari, are set to take oath as Union Ministers. This comes as aviation regulator DGCA launches a probe into the incident at Mumbai's airport when an IndiGo plane landed and an Air India aircraft took off from the same runway in succession. With a diverse political background and a reputation for infrastructure-oriented development, Gadkari's appointment as Union Minister is being closely watched.