'It's easy to criticize,' defends the CEO of Zepto Indian Startups, claiming he offers 1.5 lakh jobs amid Piyush Goyal's Jab | Company Business News

Zepto co-founder Aadit Palicha claimed that India’s new businesses in the Internet are essential for innovation. While highlighting the recent criticism of Indian new businesses, he points out the growth and contributions of Zepto, and insists that local businesses can provide support to promote technological advances. Aadit Palicha, taken to social media platform X, wrote: “It’s easy to criticize on the Internet businesses in India, especially if you compare it to the deep technical excellence built in the US/China.” The example of Zepto he further gave an example, saying, ‘The reality is this: There are almost 1.5 lakh real people that exist today on Zepto – a company that did not exist 3.5 years ago. £ 1,000+ crores tax contribution to government per year, more than a billion dollar FDI brought to the country, and invested hundreds of crores in the organization of India’s backing supply chains (especially for fresh, and especially in the country’s backup, and especially in the home of India, and especially in the country’s back, and especially in the country’s back. decline chains (especially vegetables). Startups need a reality test in terms of what they do. disturbing sign. Concerns about the technology-led innovation Palicha raised the alarm about why India does not rush to its AI technology model. “Why doesn’t India have its own large-scale fundamental AI model? This is because we have not yet built a large internet business. Most technology-led innovation has come from consumer internet businesses over the past two decades. Who scaled down cloud computing? Amazon (originally a consumer internet business). Who are the big players in AI today? Facebook, Google, Alibaba, Tencent, etc. Why are the internet businesses of consumers important? Palicha also said the reasons why consumer internet businesses promote innovation in a country. He emphasized the need for government and capital support to promote Indian new businesses. “Consumer internet businesses drive this innovation because they have the best data, talent and capital to be behind. We need to build big local champions on the internet that earn hundreds of millions of dollars in FCF first if we ever want to get a piece of major technology revolutions,” Palica said. “The starting ecosystem, the government and the owners of major pools of Indian capital should actively support the creation of these local champions, and not the teams that try hard to get there,” he added. Mohandas Pai criticized Piyush Goyal, apart from Aadit Palicha, received the statement from Piyush Goyal an answer from Mohandas Pai, former board member of Tech Major Infosys. He asked Goyal not to “not belittle our startups” and said what the minister did for “deep technical startups to grow in India.” Pai claimed that Finance Minister Nirmala Sitharaman has plagued a new business on angel tax for many years and did not allow “starting to invest, insurance insurance (companies) still investing while doing worldwide.” He also pointed fingers to the Reserve Bank of India about his overpayments and alternative investment fund policies. “@Rbi harass overseas investors regularly about overpayments and AIFs, treat them badly, cos fe rules. China has invested 845b $ from 2014/24 India only 160B $! Why does Minister @piyushgoyal @Ashwinivaishnaw not help these problems?” Pai wrote on X.