Podcasts

South Central 23 | Piyush Goyal Criticises Startups, SC Slams Governors

This week’s South Central podcast discusses Union Minister Piyush Goyal’s dig at Indian startups and the Supreme Court’s verdict on the Tamil Nadu Governor, reigniting the debate on federalism.

Dhanya Rajendran, Pooja Prasanna

Published:18th Apr, 2025 at 5:29 PM

In Episode 23 of South Central, hosts Dhanya Rajendran and Pooja Prasanna discuss Union Minister Piyush Goyal’s dig at Indian startups and the Supreme Court verdict on Tamil Nadu Governor that revived the debate on federalism. Joining them are chairman of Aarin Capital Mohandas Pai, political and policy consultant Tara Krishnaswamy, and TNM’s senior news editor Shabbir Ahmed.

On the startup debate, Pai says, “Delivery-based startups should not be demeaned, they are also a part of the innovation cycle. India has spent just USD 160 billion on startups since 2014. Compare that to China’s USD 845 billion. The problem isn’t delivery apps, it’s the lack of domestic capital and investment in research and development.”

Tara adds, “Amazon started as a delivery platform. To build a deep-tech ecosystem, we need to invest in education, research, and infrastructure. India doesn't lack talent, it lacks systems that support it.”

Pooja points out how only 8% of Indian startups make it beyond 10 years. “We talk about being a 1.4 billion market—but only a small fraction can actually afford these services,” she says.

As the conversation shifts to the State-Governor tussle, Shabbir says, “The recent Supreme Court verdict is a win for the Dravida Munnetra Kazhagam (DMK) and other opposition-ruled states. Governor RN Ravi sitting on bills was a clear abuse of power.”

Tara highlights, ““Only 25% of governors have completed their terms. Most are either political appointees or retired judges. This is not sustainable.”

Dhanya points out, “In Kerala, the last governor sat on a bill for 23 months. The Constitution makers did not probably think that we are going to have governors who will sit on bills for months and not act on them.”

On whether the post of Governor serves a purpose, the panel agrees that reforms are overdue. Tara proposes, “Let’s have governors elected through an electoral college, like the President. Another option would be to abolish the post entirely.”

All this and more—tune in.

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Audio Timecodes

00:00:00 - Intro

00:01:24 - Announcements

00:02:19 - Headlines

00:20:24 -Startups

00:49:41- Governors