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Commerce Minister's Remarks On Indian Startup Ecosystem's Value, Innovation Stir Up Debate
- Indian entrepreneurs react after Commerce Minister Piyush Goyal questioned the value and innovation of the Indian startup ecosystem.
- Zepto's Aadit Palicha emphasizes the importance of supporting the creation of 'local champions' in the startup ecosystem.
- Zoho's Sridhar Vembu views the minister's call as a challenge to engineers and technologists to drive innovation.
- Former Infosys CFO Mohandas Pai urges ministers to support deep-tech startups and remove obstacles.
- Anupam Mittal of Shaadi.com praises deep-tech companies in India but notes the lack of capital and ecosystem for growth.
- Palicha defends Indian startups, highlighting Zepto's contributions in tax, FDI, and supply chain organization.
- The debate arises from Goyal's remarks urging Indian startups to focus on high-tech sectors like AI and robotics instead of food delivery.
- Palicha argues that building strong local champions in the internet is essential for India to compete in technology revolutions.
- Despite Zepto not being a global leader yet, Palicha commits to investing in long-term innovation and value creation in India.
- The discussion reflects the need for support from the startup ecosystem, government, and Indian capital for nurturing local champions.
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