, Columnist
It’s India’s Fault Local Startups Are Trailing China
Without real manufacturing reform, entrepreneurs will fail to build out the latest technology or industrial sectors.
India’s startups are trailing China.
Photographer: Abeer Khan/BloombergThis article is for subscribers only.
India’s minister for commerce and industry, Piyush Goyal, set off a firestorm when he noted how dissatisfied he was with the nation’s startups, an unusual target for the ire of a government official. His trenchant criticism was both accurate and unfair.
Startups are more accustomed to being feted as an example of what has gone right in the economy. Officials often complain that legacy companies, especially in manufacturing, aren’t investing enough, but are happy to present these new players as a success story.