Startup Pe Charcha: Piyush Goyal Highlights Rising Youth Confidence, Deep-Tech Push and Global Opportunities for Indian Startups

New Delhi: Union Minister for Commerce and Industry Piyush Goyal on Friday said one of the most visible transformations in a resurgent India is the growing self-confidence among the country’s youth, as young Indians increasingly embrace entrepreneurship, risk-taking and experimentation.

Addressing the Startup Pe Charcha interaction at Bharat Mandapam, the minister said this shift reflects a deeper change in India’s mindset towards innovation and future-ready growth. He noted that hesitation around unconventional career choices is steadily giving way to confidence-driven entrepreneurship across the country.

Interacting with startup founders and achievers, Goyal identified tourism and skill development as sectors with significant growth potential. He said technology-enabled startups can play a transformative role in these areas, particularly by expanding access in rural and underserved regions. Emphasising the need for continuous training, re-training and re-skilling, he said India’s workforce must be prepared for emerging technologies such as artificial intelligence, quantum computing and cyber security.

On free trade agreements, the minister said India’s recent FTAs with developed economies are opening new global opportunities for startups. These agreements, he said, create certainty for investors while providing Indian entrepreneurs access to international markets. He encouraged startups to pursue startup-to-startup collaborations and overseas partnerships across sectors such as services, mobility, digital payments, sustainability, renewable energy and advanced technologies.

Highlighting the government’s focus on deep-tech innovation, Goyal said recent policy deliberations have sharpened attention on the sector. He noted that the second ₹10,000-crore Startup Fund of Funds announced by the government will provide critical support to deep-tech startups, especially at early and high-risk stages. His interactions with incubators and academic institutions, he added, indicate strong nationwide momentum in deep-tech research and commercialisation.

Addressing challenges in traditional sectors such as handicrafts, the minister underlined the importance of technology-driven inventory management to help artisans access digital and e-commerce platforms. He said the Government e-Marketplace (GeM) is willing to facilitate onboarding, inventory digitisation and market access, including through integration with the Open Network for Digital Commerce (ONDC).

Referring to India’s space startup ecosystem, Goyal said over 350 startups are currently active in the sector, driven largely by deep-tech innovation. He noted that the sector has crossed a valuation of USD 2 billion, with the government aiming to support the emergence of multiple unicorns in the coming years.

The interaction was held in the presence of DPIIT secretary Amardeep Singh Bhatia, DPIIT joint secretary Sanjiv, Boat co-founder and chief marketing officer Aman Gupta, OYO founder and group CEO Ritesh Agarwal, and Minimalist co-founder Mohit Yadav.

Concluding the session, the minister stressed the importance of building strong domestic supply chains by connecting startups and small enterprises with large investors and manufacturers. He said institutions such as Invest India and the Department for Promotion of Industry and Internal Trade are working to facilitate these linkages, enabling startups to access captive demand, capital and scale. He urged entrepreneurs to explore emerging opportunities, take calculated risks and leverage India’s talent base to drive innovation-led growth.