Startup Mahakumbh: What funding numbers say about Indian startups

In the hottest sector of AI, where most global VC funding is going currently, the country's record has not been anything to write home about

Commerce Minister Piyush Goyal’s critique of startups in the second edition of “Startup Mahakumbh” held at Bharat Mandapam here on Thursday, asking them to focus on high-tech areas like artificial intelligence (AI), electric mobility, robotics, and deep tech, like China, rather than on quick commerce and selling “healthy” ice creams, is reflected by the reality of numbers. 

For venture capital (VC) and private equity (PE) investments in high-tech startups, which include AI, electric vehicles, drones, deep tech, semiconductors, and robotics, collectively have seen a fall in 2024 over the previous year. At a macro level VC/PE investments in these high-tech