NEW DELHI: India’s technological sector is on the rise and is expected to reach $300-$350 billion in the next five years, defence minister Rajnath Singh said on Monday.
Speaking at the foundation day celebrations of IIT-Mandi, he said the biggest challenge before the country is not only to adapt to rapidly changing technology, but to create new technologies.
“Don’t just be adapters, become the disruptors who lead innovation,” the minister said, highlighting the rising number of start-ups in the country. With more than 1.25 lakh start-ups and 110 unicorns, the country is emerging as the third-largest start-up ecosystem in the world, he said.
The minister said India is progressing towards self-reliance in defence where it has achieved 88% self-sufficiency in ammunition production. Defence exports reached approximately Rs 23,000 crore in 2023-24 while the goal is to reach Rs 50,000 crore by 2029, he added. Today, the defence industry not only contributes to the security of the country but also supports its economic growth, Singh said.
In the context of national security, Singh urged IIT-Mandi to play a more significant role in defence-related technologies. He commended the existing collaboration with DRDO and called for further contributions in areas such as AI-driven warfare, indigenous AI chip development, cybersecurity, and quantum technology.
Urging students to excel in technological innovation in order to make the country developed by 2047, the minister said, “India’s telecom sector is now the second-largest in the world. With the success of initiatives like UPI, India is setting global standards in digital transactions. We are in the midst of an unparalleled digital revolution.”
He encouraged students to actively contribute to the development of India’s digital ecosystem, reiterating that technological innovation is central to India’s growth story in the coming decades.