Lede: India's startup ecosystem is maturing into a new era of deep technology, Times Internet chairman Satyan Gajwani said in his address at the ET Startup Awards 2026, crediting government support, regulatory reforms and entrepreneurial leadership for the shift towards chips, AI and robotics.
Gajwani said the ecosystem — once driven by fintech, food delivery, SaaS, commerce, quick commerce and direct-to-consumer brands — is now witnessing founders focused on deep, proprietary technology, with Indian startups building semiconductor chips, AI, robotics, clean energy technologies and new materials, while investors are shaping funds willing to wait longer for these companies to mature.
Skyroot milestone cited
Citing the July 18 launch of Skyroot Aerospace's Vikram-1 rocket from Sriharikota, which placed customer satellites in orbit 450 kilometres above Earth, Gajwani said that with the launch India had become only the third nation after the US and China with a private company able to reach space.
State support and the AI gap
Gajwani credited much of the momentum to advocacy and championing by leaders, foremost Commerce and Industry Minister Piyush Goyal. He said that under Startup India, the number of recognised startups has grown from a few hundred to more than 250,000, creating nearly 2.5 million jobs, and that a Rs 10,000 crore Fund of Funds has been launched to support new-age sectors.
He also highlighted startups' role in formalising informal work and building new Indian brands. However, he cautioned that India remains behind the US and China in artificial intelligence. "Closing that gap will take deep research, serious compute, entrepreneurial vision and patient capital," he said, adding: "But if a startup can put a rocket into orbit from Sriharikota, I have no doubt this ecosystem can build AI that the world will want to use."
Sources: ET Startup Awards 2026 — The Economic Times
Gajwani said the ecosystem — once driven by fintech, food delivery, SaaS, commerce, quick commerce and direct-to-consumer brands — is now witnessing founders focused on deep, proprietary technology, with Indian startups building semiconductor chips, AI, robotics, clean energy technologies and new materials, while investors are shaping funds willing to wait longer for these companies to mature.
Skyroot milestone cited
Citing the July 18 launch of Skyroot Aerospace's Vikram-1 rocket from Sriharikota, which placed customer satellites in orbit 450 kilometres above Earth, Gajwani said that with the launch India had become only the third nation after the US and China with a private company able to reach space.
State support and the AI gap
Gajwani credited much of the momentum to advocacy and championing by leaders, foremost Commerce and Industry Minister Piyush Goyal. He said that under Startup India, the number of recognised startups has grown from a few hundred to more than 250,000, creating nearly 2.5 million jobs, and that a Rs 10,000 crore Fund of Funds has been launched to support new-age sectors.
He also highlighted startups' role in formalising informal work and building new Indian brands. However, he cautioned that India remains behind the US and China in artificial intelligence. "Closing that gap will take deep research, serious compute, entrepreneurial vision and patient capital," he said, adding: "But if a startup can put a rocket into orbit from Sriharikota, I have no doubt this ecosystem can build AI that the world will want to use."
Sources: ET Startup Awards 2026 — The Economic Times
