Prime Highlights:
- Zepto CEO Aadit Palicha comes to the defense of India’s consumer internet startups after Union Minister Piyush Goyal asks if they have any value.
- Palicha underscores Zepto’s contribution towards job creation, FDI inflows, and technology-led innovation.
Key Facts:
- Zepto has contributed more than ₹1,000 crore in annual tax revenues.
- It has brought in $1 billion+ of FDI and generated ~150,000 jobs.
- Heavy investments incurred on backend supply chains, particularly in fruits and vegetables.
Key Background :
Zepto co-founder and CEO Aadit Palicha released a scathing counter to Union Commerce Minister Piyush Goyal’s recent comments that Indian startups shift focus away from grocery delivery and target more high-tech sectors such as AI, robotics, and semiconductors. Goyal had disparaged the startup ecosystem, questioning if India would be satisfied to be branded only for “delivery boys and girls.”
Palicha replied on LinkedIn, emphasizing that it is simple to be critical of consumer internet businesses, but their economic footprint says a lot. Zepto, which has been started barely more than three years ago, has already provided employment to approximately 1.5 lakh people, paid over ₹1,000 crore as annual taxes, and attracted over a billion dollars in foreign direct investment into the nation. He contended that such success is a “miracle in Indian innovation.”
He further emphasized that most major tech revolutions—whether cloud computing or AI—were built on the foundation of consumer internet companies. Using global examples like Amazon, Meta, Google, and Alibaba, Palicha highlighted how these began as consumer-centric ventures and later evolved into tech giants. He suggested that India must first build strong internet companies that generate significant free cash flow before expecting breakthroughs in foundational tech like AI.
Palicha promoted greater institutional and governmental support for local startups instead of undermining their efforts. He admitted that Zepto is far from being globally excellent but reiterated the company’s dedication to long-term innovation and economic vibrancy in India.
He ended on a promise that Zepto’s generated capital would be reinvested to promote long-term value and innovation. Palicha appealed to stakeholders such as the government and big capital owners to actively promote Indian startups as they attempted to make meaningful economic and technological impacts.
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