Our Bureau
New Delhi
Commerce Minister Piyush Goyal, speaking at the second edition of the Startup Maha Kumbh on Wednesday, touched on the nature and scope of Indian startups and urged them to think of big and innovative solutions
“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
The Union Minister said Indian startups need to be willing to evolve and not be afraid of competition. “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.
Speaking of the nature of startups India is setting up, he said India needs to raise the bar and help prepare the future of the nation.
“We need to invest heavily to become self-reliant, building chips, AI models which will prepare the nation for the future,” he said.
“We need to go global. We need to think big; we need to be ambitious; we need to experiment. We need to go beyond the boundaries of our own thinking. Let’s not limit ourselves with the past. Let us explore the unknown,” he suggested.
Talking about his government, Goyal said under Prime Minister Narendra Modi’s guidance and leadership, they are not aiming small.
“Under Prime Minister Modi’s guidance and leadership, we are not aiming small. We are not looking at agreements with countries who are in a situation which is even worse than what India is. The Modi government is doing trade agreements with big nations such as Australia, the EU, the UK, the US, Peru, Chile, New Zealand, Oman, Bahrain, Qatar. Our ambitions are to compete with the best in the world,” he said, galvanising the startup entrepreneurs who have converged at the Startup Maha Kumbh.
On January 16, 2025, India marked nine years of Startup India, a transformative journey that began in 2016.
India has about than 1.6 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). India has the third largest startup ecosystem.
Ahead of the second edition of ‘Startup Mahakumbh’, Department for Promotion of Industry and Internal Trade (DPIIT) Joint Secretary Sanjiv Singh said that nearly 3000 startups will be participating this time in the event.
Sanjiv Singh said, “This year’s Startup Mahakumbh is bigger and better than last year. Pavillions have been set up in area double than last year’s. Nearly 3000 startups will be participating this time, as compared to 1500 last year. Masterclasses will be organised this year. Delegates from 64 countries are coming to take part in it.”
He further said that a grant challenge has been announced by various corporate houses in which a grant of Rs 50 crores will be given to various start-ups and they would be mentored.
The event’s unmatched scale and diversity of participants will provide an invaluable platform for entrepreneurs, investors, and thought leaders to come together, share ideas, and create lasting connections.
With a strong focus on fostering innovation and collaboration, Startup Mahakumbh will lay the foundation for the next wave of entrepreneurial success.
During this year’s edition, Tribal entrepreneurs are also set to take the stage with participation from 45+ startups, including those incubated at IIM Calcutta, IIM Kashipur, and IIT Bhilai.
Archana Jahagirdar, Founder and Managing Partner at Rukam Capital and Startup Mahakumbh Organizing Committee Member, applauded the efforts from the government and said, “The support from the Government of has been instrumental towards propelling the vision of Viksit Bharat 2047, and we hope to play an integral role by organizing the ‘World’s Biggest Showcase of Innovation’ – Startup Mahakumbh.”
Prashanth Prakash, Founding Partner, Accel and Startup Mahakumbh Organizing Committee Member, said, “The second edition of Startup Mahakumbh will prove to be a gamechanger as it returns with a bigger, bolder and better vision and agenda. These events underscore the importance of public and private partnerships in achieving a common agenda of propelling India to the top of the startup ecosystem globally.”
Sanjeev Bikhchandani, Co-founder and Executive Vice Chairman, Info Edge and Startup Mahakumbh Organizing Committee Member, added, “The startup industry is Darwinian in nature and these forums help follow best global practices and drive innovation to build capital for businesses that can not only transform India but the world.”
