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HomeIndia‘China making EVs, Indian startups setting ice-cream shops: Piyush Goyal’s remarks stir...

‘China making EVs, Indian startups setting ice-cream shops: Piyush Goyal’s remarks stir controversy

‘China making EVs, Indian startups setting ice-cream shops: Piyush Goyal’s remarks stir controversy


Union Minister Piyush Goyal critiqued India’s startup ecosystem, saying billionaire kids are creating shops for icecreams and chips while China is making semiconductor chips and EV batteries. Speaking at Startup Mahakumbh 2025, he also expressed his disappointment of Indian startups being sold to foreign companies for small valuations. His remarks received a sharp backlash from founders and investors.

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