Zepto CEO defends startups, citing jobs and taxes

Union Commerce Minister Piyush Goyal’s comments on India’s startup ecosystem at Startup Mahakumbh 2025 in New Delhi have stirred controversy. Comparing Indian and Chinese startups, he asked, “Should we aspire for more or stay delivery workers?” Zepto CEO Aadit Palicha responded, citing 1.5 lakh jobs and ₹1,000+ crore in annual taxes.

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The Role of Consumer Internet Startups in India’s Innovation and Growth

“It is easy to criticise consumer internet startups in India, especially when you compare them to the deep technical excellence being built in US/China. Aadit Palicha highlighted that in just 3.5 years, Zepto has created 1.5 lakh jobs, contributed ₹1,000+ crore in taxes annually, attracted over $1 billion in FDI, and invested heavily in India’s supply chains. He added that if this progress “isn’t a miracle in Indian innovation” then he doesn’t know what is.

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He then asked, “Why doesn’t India have its own large-scale foundational AI model? It’s because we still haven’t built great internet companies.” He noted that AI giants like Amazon and Google started as consumer internet firms.

“Consumer internet companies drive this innovation because they have the best data, talent, and capital to put behind it,” he continued.

He urged the startup ecosystem, the government, and Indian capital owners to actively support the creation of local champions instead of pulling down teams striving to succeed.

Palicha confessed that Zepto is not yet a “great Internet company,” but it is trying hard to become one. He added that he is dedicating the next few decades of his life to creating “dynamism in the Indian economy.” He concluded his post by saying that India has both talent and capital, but it needs “execution.”

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