Union Finance Minister Nirmala Sitharaman has said India can achieve economic growth of more than 10 per cent if technology and innovation are adopted more widely across sectors.Speaking at a fireside chat organised by the IIT Madras Alumni Association in Bengaluru on September 26, Sitharaman said reaching 10 per cent-plus growth would require greater effort across the economy. She linked higher growth with India's broader goals of Atmanirbhar Bharat and Viksit Bharat.Key HighlightsNirmala Sitharaman said India can achieve more than 10 per cent economic growth.She stressed greater adoption of technology and innovation across sectors.Startups could make a significant contribution to future economic growth.Technology can improve agricultural productivity and connect farmers with markets.Digital systems can help reduce leakages in areas such as fertiliser distribution.The Economic Survey 2025-26 estimated India's real GDP growth at 7.4 per cent for FY26.What Did Nirmala Sitharaman Say?Sitharaman expressed confidence that India could move beyond 10 per cent economic growth with stronger adoption of technology and innovation.She said achieving such growth would not happen automatically and would require greater effort from different parts of the economy. Her remarks were made while discussing India's development trajectory and the role of technology in improving productivity.The Finance Minister also pointed to the expansion of India's startup ecosystem since 2015, saying startups could make a substantial contribution to the economy in the coming years.Technology's Role in India's GrowthSitharaman highlighted technology as an important tool for improving productivity across different sectors.Agriculture was one of the areas she discussed. Technology can help farmers improve productivity, connect producers with markets and make agricultural supply chains more efficient.She also referred to the potential use of technology to reduce pilferage in fertiliser distribution.The government's Economic Survey 2025-26 has similarly highlighted technology, innovation and high-tech manufacturing as important components of India's long-term growth strategy. The survey said medium- and high-technology activities accounted for 46.3 per cent of manufacturing value added and emphasised the importance of productivity, innovation and integration with global value chains.Startups Could Support Future GrowthSitharaman also highlighted India's startup ecosystem as a potential source of economic expansion.India's startup landscape has grown considerably over the past decade, with companies operating across areas including financial technology, artificial intelligence, healthcare, e-commerce, manufacturing and other technology-driven sectors.The Finance Minister said startups could contribute significantly to the economy in the coming years as innovation and entrepreneurship expand.Technology-led businesses can also create demand for skilled workers, research and development, digital infrastructure and supporting services.India's Current Growth PositionSitharaman's 10 per cent-plus growth statement comes against the backdrop of India's existing high growth rate.The Economic Survey 2025-26 estimated India's real GDP growth at 7.4 per cent in FY26, with growth supported by domestic consumption and investment. It also highlighted the growing contribution of services, manufacturing and technology-intensive industries.The survey noted that India's services sector has become an important driver of economic activity, while medium- and high-technology manufacturing is gaining a larger role in industrial output.Focus on Innovation and R&DSitharaman's comments also follow recent calls for Indian businesses to increase investment in research and development.At an All India Management Association event earlier in September, she urged companies to build stronger institutions, improve quality and develop deeper technological capabilities. She also called for a shift from simply "Made in India" towards creating products, technologies, patents and intellectual property in India.The Economic Survey has similarly emphasised research, innovation and technology depth as important for India's competitiveness in global value chains.What Could Help India Reach Higher Growth?Higher growth would depend on several factors rather than technology alone.Greater productivity, stronger infrastructure, private investment, skilled workers, innovation, manufacturing capacity and integration with global markets are among the factors that can influence India's growth rate.The Economic Survey has identified technology-intensive manufacturing, digital services, infrastructure investment and innovation capacity as important parts of India's longer-term development strategy.India has also expanded digital infrastructure and technology programmes in areas including artificial intelligence, semiconductors, quantum technologies, cloud infrastructure and advanced manufacturing. Government information on India's technology ecosystem highlights these areas as part of efforts to strengthen domestic technological capabilities.What Happens Next?Sitharaman's comments place technology and innovation at the centre of India's ambition for faster economic growth.Moving from the current growth trajectory to sustained 10 per cent-plus growth would require productivity gains and investment across multiple sectors. The extent to which technology, startups, manufacturing and research can contribute will depend on implementation, investment and broader domestic and global economic conditions.For now, the Finance Minister's statement reflects the government's emphasis on technology-led productivity and innovation as India works towards its longer-term Viksit Bharat goals.
