Union Minister Piyush Goyal recently kicked up a storm at the Startup Mahakumbh saying Indian startups are all about making delivery apps and indulging in retail-like business models whereas China is going ahead in chip making. His remarks, perceived as critical of the Indian startup ecosystem, have prompted subtle responses from several industry figures. One of the most prominent replies comes from Dhananjaya Bharadwaj, Co-founder of ParkMate, through a LinkedIn post.
The Subtle Counter
Dhananjaya Bharadwaj, in a timely LinkedIn post, showcased a comparison infographic called “India vs. China: The Actual Startup Reality Check.” The infographic vividly compares the technology orientation of Indian startups with Chinese startups.
The Reality Check: India vs. China
According to Bharadwaj’s post:
- India’s Technological Prowess: Indian startups are making strides in cutting-edge technology sectors, including EV & Battery Tech (Ultraviolette, Ola Electric, Ather, Oben), Space Tech (Agnikul Cosmos, Skyroot, GalaxEye, Dhruva Space), FinTech (PayTM, PhonePe, Jupiter, Slice, BharatPe), and DeepTech (BotLab, Pixxel, Krutrim, Uravu Labs, Blyp, Grey Orange).
- China’s Consumer-Centric Focus: In contrast, Chinese startups are primarily focused on consumer applications such as food delivery apps (Meituan, Instashopping, Pupu), fancy food and beverage brands (DayDayCook, Junlebao), online betting apps (1XBet, Bet365), and the creator economy and gaming (Tencent, ByteDance).
Significance of the Comparison
The contrast between Indian technological innovation and consumer-focused apps in China is a quiet refutation of the story told by Goyal. Bharadwaj’s blog, which has since received much attention on LinkedIn, resonates with other industry players who have made similar observations.
Industry Reactions
Many in the startup community have echoed Bharadwaj’s perspective, expressing that while India does have its share of consumer apps, it is also making remarkable progress in deep technology, space innovation, and financial technology.
And so the debate rages, Bharadwaj’s post being a valuable counterpoint, hailing India’s entrepreneurial ambition and technology acumen. The post also highlights an increasingly prevalent perception among Indian entrepreneurs that the nation’s startup ecosystem is much more vibrant and diversified than it has been made out to be.
Also Read: Adithya Pappala Backs Piyush Goyal’s Call for Global Innovation
