Technology-Enabled Startups Can Transform Tourism and Skill Development, Says Shri Piyush Goyal

Free Trade Agreements Opening Global Opportunities for Indian Startups: Shri Piyush Goyal

Shri Goyal Emphasizes the Importance of Building Strong Domestic Supply Chains by Connecting Startups and Small Enterprises

Union Minister for Commerce and Industry Shri Piyush Goyal, while addressing the “Startup Pe Charcha” interaction at Bharat Mandapam, New Delhi, highlighted that one of the most visible transformations in a resurgent and new India is the growing self-confidence among the country’s youth. He noted that young Indians today are increasingly willing to take risks, pursue entrepreneurship and experiment with ideas, marking a significant shift from earlier hesitations around career choices. The Minister said that this self-confidence reflects a fundamental change in India’s mindset towards innovation and future-ready growth.

During the interaction, Shri Goyal engaged with several founders and achievers present at the event. Responding to a question on sectors with high growth potential, the Minister identified tourism and skill development as areas offering significant opportunities, both in terms of national requirements and entrepreneurial success. He emphasised the need to integrate technology into these sectors to reach wider sections of the population, particularly in rural areas. He also underlined the importance of training, re-training and re-skilling to prepare India’s workforce for emerging technologies such as artificial intelligence, quantum computing and cyber security.

On Free Trade Agreements (FTAs), the Minister said that India’s recent agreements with developed economies provide significant opportunities for startups and entrepreneurs. He explained that these agreements create certainty and confidence for investors while opening new markets for Indian goods and services. He encouraged startups to explore startup-to-startup collaborations and partnerships with countries abroad to attract investment and expand globally, highlighting opportunities across services, mobility, payments, sustainability, renewable energy and advanced technologies.

On deep-tech innovation, the Minister expressed optimism about the progress being made across the country. He noted that recent policy discussions have brought sharper focus to deep-tech development and said that the second ₹10,000-crore Startup Fund of Funds announced by the Government will significantly support deep-tech startups, particularly at early and critical stages of growth. He added that his interactions with incubators and academic institutions across the country reflect strong momentum in this sector.

Addressing concerns related to sectors such as handicrafts, Shri Goyal highlighted the importance of integrating technology into inventory management to enable artisans to access digital and e-commerce platforms. He stated that the Government e-Marketplace (GeM) is willing to support such efforts by facilitating onboarding, inventory digitisation and market access, including through integration with the Open Network for Digital Commerce (ONDC).

Referring to India’s space startup ecosystem, Shri Goyal noted that over 350 startups are currently operating in the sector, with deep-tech innovation at their core. He said 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 Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Shri Amardeep Singh Bhatia; Joint Secretary, DPIIT, Shri Sanjiv; Co-founder and Chief Marketing Officer, Boat, Shri Aman Gupta; Founder and Group Chief Executive Officer, OYO Rooms, Shri Ritesh Agarwal; and Co-founder, Minimalist, Shri Mohit Yadav.

Concluding the interaction, the Minister emphasised the importance of building strong domestic supply chains by connecting startups and small enterprises with large investors and manufacturers. He stated that institutions such as Invest India and DPIIT are working to facilitate these linkages, enabling startups to access captive demand, capital and scale. He encouraged entrepreneurs to explore emerging opportunities, take calculated risks and leverage India’s unmatched talent base to drive innovation-led growth.

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Abhishek Dayal/ Abhijith Narayanan/Anushka Pandey

Startups: FTAs, Rs.10,000 cr Startup Fund, GeM/ONDC integration, supply chain linkages and reskilling for deep-tech, tourism, and artisans. The release describes policy measures to accelerate startup growth: priority sector focus on tourism and skill development with technology integration and workforce reskilling; Free Trade Agreements creating market and investor opportunities for cross-border startup collaboration; a second Rs.10,000-crore Startup Fund of Funds to support early-stage deep-tech; Government e-Marketplace and ONDC-based digitisation to enable artisans' market access; and institutional efforts to link startups and small enterprises with large investors and manufacturers to build domestic supply chains.