Technology and Innovation Can Boost India’s Economic Growth - Sitharaman

India can achieve economic growth of more than 10 per cent by making wider and more effective use of modern technology and innovation across sectors, Union Finance Minister Nirmala Sitharaman said. Speaking at the IIT Madras Alumni Association’s annual conference, Sangam 2026, in Bengaluru on Saturday, she said achieving higher growth would require greater efforts across sectors. She added that faster growth would accelerate India’s journey towards Atmanirbhar Bharat and Viksit Bharat.

Sitharaman said artificial intelligence, semiconductor chips and quantum technology are likely to become major areas of infrastructure investment in the coming years. While noting India’s progress in AI, she said the sector’s development should not be judged only by the number of companies listed on stock exchanges and suggested that successful AI firms should also consider listing as they scale up. At the event, she unveiled Cashless Nation: How UPI Changed Everything, authored by Santanu Paul and B. Sambamurthy. IIT Madras Director Prof. V. Kamakoti and others attended the programme.