Shark Anupam Mittal criticised the ongoing debate going around bashing Indian startups after Union Minister Piyush Goyal remarked that the founders in our country should focus on building deep-tech startups instead of “grocery delivery and ice cream making.”
Suhel Seth backs Piyush Goyal
Though several startup founders have responded to Goyal’s remarks, recently, a Startup debate on television has refuelled the argument.
On the LIVE debate show, Suhel Seth, Founder & Managing Partner, Counselage India, remarked that 80 per cent of Indian startups are a 'racket'.
Entrepreneur Anupam Mittal immediately bashed the statement and asked, “Aren't we harassed enough that we need this crab mentality egging the bureaucracy on by calling founders and VCs frauds?”
Backing Piyush Goyal’s statement, Seth said that Indian startups have become a 'game of valuation'.
"It might be hurtful, but I don't care. 80 per cent of startups in India are nothing but a racket... The first thing that startup founders do is buy themselves Lamborghinis and homes in Amrita Shergill Marg and big apartments," Seth told Arnab Goswami, Editor-in-Chief, Republic TV.
"I am in total agreement with Piyush Goyal," he said, adding that if India has to make a meaningful contribution, it has to be innovative. "Where are our innovations? We keep talking about our software prowess... Have we produced a Facebook? No. Have we produced a Google? No. Have we produced anything which is innovative, which is a global brand? The answer is no," he said.
Anupam Mittal reacts
Anupam Mittal protested Suhel Seth’s argument, urging, “Ye deshdroh bandh karo” and concluded his statement with a praying hand emoji on the social media platform X.
Also read: Aman Gupta Supports Minister Piyush Goyal’s ‘Deep Tech Over Grocery Delivery’ Advice For Indian Startups (startuppedia.in)
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