Aaj Ki Janta

New Delhi – April 6, 2025 — Former Shark Tank India judge and Third Unicorn founder Ashneer Grover has responded sharply to Union Minister Piyush Goyal’s recent remarks on India’s start-up ecosystem, calling out the need for government reforms rather than criticism of entrepreneurs. Goyal had questioned whether India was settling for “fancy cookies and food delivery apps” while China surged ahead in deep-tech innovation.

In a series of candid posts on X (formerly Twitter), Grover highlighted the bureaucratic and regulatory challenges faced by Indian start-ups and laid out his top three demands from the government to unlock the next level of entrepreneurial growth.

Grover’s three key demands:

1. Single-window clearance: Fast-track all licenses and filings across SEBI, RBI, FEMA, IT, GST, and local authorities, with a maximum ETA of 15 days. If deadlines are missed, approvals should be automatic.
2. ESOP taxation reform: Tax employee stock options (ESOPs) only at the time of actual cash gain, not during exercise. He also suggested that capital gains tenure be calculated from the time of vesting.
3. Investor write-off flexibility: Allow domestic investors to write off investments in start-ups at any point based on discretion, without the need to sell shares. Any future gains from those investments can be taxed fully.

Grover didn’t hold back in criticizing politicians for being disconnected from the real struggles of entrepreneurs. “The only people in India who need a ‘reality check’ are its politicians. Everyone else is living in the absolute reality of India,” he posted.

He also pointed out that China, too, began with food delivery services before becoming a deep-tech powerhouse, implying that India is on its own journey and deserves policy support, not condemnation.

Grover urged political leaders to aspire for sustained economic growth and shift the narrative from history to science and innovation. “Maybe time to change public discourse from history to science,” he concluded.

The exchange has fueled a broader conversation in India’s tech circles, with entrepreneurs echoing Grover’s sentiment that ease of doing business and regulatory simplification must precede calls for deep-tech transformation. Many believe that policy inertia, not ambition, is what holds Indian start-ups back from going global and building disruptive technology.