Union Minister for Commerce and Industry Piyush Goyal on Friday said one of the most striking changes in a resurgent India is the growing self-confidence among its youth, as young Indians increasingly embrace risk-taking, entrepreneurship and innovation.
Addressing the “Startup Pe Charcha” interaction at Bharat Mandapam, Goyal said the willingness of the younger generation to experiment with ideas and pursue entrepreneurial paths reflects a fundamental shift in India’s mindset towards innovation and future-ready growth.
Interacting with startup founders and achievers, the Minister identified tourism and skill development as sectors with immense growth potential. He said technology-enabled solutions in these areas could not only meet national requirements but also unlock significant entrepreneurial opportunities, especially in rural and underserved regions. Stressing the importance of preparing India’s workforce for emerging technologies, Goyal highlighted the need for continuous training, re-skilling and up-skilling in areas such as artificial intelligence, quantum computing and cyber security.
On India’s Free Trade Agreements (FTAs), the Minister said recent pacts with developed economies are opening global opportunities for Indian startups by creating investor confidence and access to new markets. He encouraged entrepreneurs to explore startup-to-startup collaborations and partnerships overseas, citing opportunities across services, mobility, digital payments, sustainability, renewable energy and advanced technologies.
Speaking on deep-tech innovation, Goyal expressed optimism over the momentum building across the country. He said policy focus on deep-tech has sharpened in recent years and noted that the government’s second ₹10,000-crore Startup Fund of Funds would provide a major boost to early-stage and critical-phase startups. His interactions with incubators and academic institutions, he added, point to strong growth prospects in the sector.
Addressing challenges faced by traditional sectors such as handicrafts, the Minister emphasised the role of technology in inventory management and market access. He said platforms such as the Government e-Marketplace, along with integration through the Open Network for Digital Commerce, can help artisans and small producers access digital and e-commerce ecosystems more effectively.
Referring to India’s expanding space startup ecosystem, Goyal said more than 350 startups are currently operating in the sector, which has crossed a valuation of USD 2 billion. He added that the government aims to support the emergence of multiple unicorns in the coming years, driven largely by deep-tech innovation.
The interaction was attended by senior officials from the Department for Promotion of Industry and Internal Trade and leading entrepreneurs, including Aman Gupta of boAt, Ritesh Agarwal of OYO Rooms, and Mohit Yadav of Minimalist.
Concluding his remarks, Goyal underscored the importance of building strong domestic supply chains by linking startups and small enterprises with large investors and manufacturers. He said institutions such as DPIIT and Invest India are working to facilitate these connections, enabling startups to access capital, demand and scale, and urged entrepreneurs to leverage India’s vast talent pool to drive innovation-led growth.
