On Thursday, April 3, 2025, Union Commerce Minister Piyush Goyal delivered a bold and unfiltered critique of India’s startup ecosystem during his address at the Startup Mahakumbh 2025 held at Bharat Mandapam in New Delhi. The event, now in its second edition, drew thousands of entrepreneurs, investors, and innovators, but Goyal’s words left the audience reflecting deeply on the direction of Indian entrepreneurship. He didn’t hold back, pointing out what he sees as a troubling lack of ambition and innovation among Indian startups, especially when compared to their Chinese counterparts.