The Samudra Manthan yielded many products, among them – the elixir of eternal life (amrita) and poison (halahala). Over the past week, India has witnessed a similar manthan, albeit not in the ocean. Are startups putting their best foot forward, or are they merely targeting low-hanging fruits? Commerce Minister Piyush Goyal gave Indian startups a reality check, comparing their operational areas to those of Chinese startups.

The difference was stark and for all to see. If China is focusing on high-tech research, India’s startups are predominantly trying to outdo each other in salesmanship. While China is pouring billions into hard tech R&D, many Indian startups remain fixated on faster deliveries and better cashback offers. That makes you a business and an entrepreneur, but not a startup in the truest sense of the word, especially not in the world that is now taking shape.

Many startup founders have taken offence at Piyush Goyal’s remarks. The minister’s statements have been misconstrued as an indictment of Indian business owners, or startup founders, as they like to be called. What many of these founders do not appreciate is the frankness of the government in giving them a much-needed and timely reality check.

Donald Trump has turned global trade on its head. The world economy faces uncertainties it has not seen in decades. The US and China’s power competition is heating up, and the world order is changing. In this context, India has a limited window of opportunity to strike gold. We have the potential and scale to benefit from supply chains shifting away from China. What we do not appear to have is a candid exchange of views between the government and businesses, especially startups.

Piyush Goyal’s remarks at the Startup Mahakumbh last week, however, signal the beginning of a new era in India’s growth story. The government has shown its willingness to share candid views with business owners, while also being receptive to the feedback that comes in as a natural consequence of such debates. Unfortunately, many founders do not appreciate this spirit. It’s........

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