{"id":273699,"date":"2025-04-04T04:49:07","date_gmt":"2025-04-04T04:49:07","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/04\/indias-bright-ideas-being-sold-to-foreign-firms-for-just-rs-50-60-lakh-piyush-goyal-attacks-startup-ecosystem\/"},"modified":"2025-04-04T04:49:08","modified_gmt":"2025-04-04T04:49:08","slug":"indias-bright-ideas-being-sold-to-foreign-firms-for-just-rs-50-60-lakh-piyush-goyal-attacks-startup-ecosystem","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/04\/indias-bright-ideas-being-sold-to-foreign-firms-for-just-rs-50-60-lakh-piyush-goyal-attacks-startup-ecosystem\/","title":{"rendered":"‘India’s bright ideas being sold to foreign firms for just Rs 50-60 lakh: Piyush Goyal attacks startup ecosystem"},"content":{"rendered":"
\"‘India’s<\/div>


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Commerce Minister Piyush Goyal<\/a>, speaking at the second edition of the Startup Maha Kumbh on Wednesday, commented on Indian start-ups selling their ideas to foreign firms, adding that arbitration and mediation mechanisms are crucial for India’s emergence as a global manufacturing hub. <\/p>\n

Expressing concern over the brain drain, Goyal lamented that many innovative ideas are being sold to foreign companies for a fraction of their value. \u201cIt\u2019s heartbreaking to see a bright startup idea sold for Rs 50-60 lakh to foreign companies.”<\/p>\n

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Piyush Goyal on foreign firms buying startups
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“I only wish they’d had more Indian investors, rather than the foreigners buying off all our startups. And yes, we need more Indian investors into the game. And look at what the other side is doing, robotics, automation, machine learning, preparing ourselves for 3d manufacturing, next gen factories that are more efficient and that compete with the rest of the world,” he said<\/p>\n

The Union Minister said Indian startups need to be willing to evolve and not be afraid of competition.<\/p>\n

“We must learn (from other countries). We must be willing to evolve, we have to be able to learn, we want to aspire to be bigger and better and bolder. And we should not shy of the competition,” he said.<\/p>\n

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Live Events<\/h3>\n<\/div>\n<\/div>\n

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Piyush Goyal on food delivery apps
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Indian startups are focusing on food delivery apps, turning unemployed youth into cheap labour, while Chinese startups are working on electric mobility, battery technology, and building chips and AI models, commerce and industry minister Piyush Goyal said on Thursday as he asked them to become bolder and bigger.\u201cSome people may criticise me for comparing Indian startups with another country\u2019s startup; I don\u2019t mind it; we have to be willing to evolve, we have to be willing to learn, we want to aspire to be bigger and better and we have to be bolder,\u201d Goyal said at the start-up Mahakumbh event.He said Indian startups must up their game and focus on sectors such as deeptech, battery and electric mobility if India aims to become the largest startup ecosystem in the world. Highlighting the role of startups in making India a Vikist Bharat by 2047, he said the country will get there if Indian startups innovate in robotics, machine learning and automation, explore technologies like 3D printing to make manufacturing efficient.<\/p>\n

Goyal further said that within deeptech ecosystem in India, around 1,000 startups exist, which is a disturbing sign and if India needs to be recognised globally, we can\u2019t restrict to \u201cwealth creation in the short run which may happen with some of these conveniences.\u201d<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Commerce Minister Piyush Goyal, speaking at the second edition of the Startup Maha Kumbh on Wednesday, commented on Indian start-ups selling their ideas to foreign firms, adding that arbitration and mediation mechanisms are crucial for India’s emergence as a global manufacturing hub. Expressing concern over the brain drain, Goyal lamented that many innovative ideas are […]<\/p>\n","protected":false},"author":2,"featured_media":273700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/118783427.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[1179,14622,6823,1966,33,19432,13992,925,5957,19431,18733,210466,210464,210465,210463,2508,2293],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/273699"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=273699"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/273699\/revisions"}],"predecessor-version":[{"id":273701,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/273699\/revisions\/273701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/273700"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=273699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=273699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=273699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}