Piyush Goyal, Minister of Commerce and Industry, calls out startups for focusing on food and grocery delivery, founders say it’s because the govt takes a toll on their functioning
Amritt CEO, Gunjan Bagla, who runs a company that promotes trade between the United States and India, said that for venture-funded startups, comparisons should never be made with China in the first place, as they are subject to a completely different regime. Bagla’s inspiration lies somewhere else.
“We should be looking at United States and Israel,” said the entrepreneur, adding that startups thrive when there are fewer constraints. “In the US, entrepreneurs can establish a new company quickly and there are not a lot of limitations on what a company can do. Their equivalent of the MCA (Ministry of Corporate Affairs) does not place many constraints if a startup needs to change its business model.”
Gunjan highlighted that the flow of capital is crucial for early-stage startups and fostering innovation. To him, the government of India has made it difficult for foreign funding to enter and leave the country.
“Money needs to flow freely in and out,” he said, before underscoring that there are numerous people and companies in the United States who are ready to invest in India. “But not many will do it if they can’t see their money getting out of India easily upon exiting a successful startup.”
Last updated: May 13th, 2026
