India’s technological sector is experiencing unprecedented growth, with projections indicating that it will reach a valuation of Rs. 26,00,400-30,33,800 crore (US$ 300-350 billion) in the next five years. Union Minister of Defence Mr. Rajnath Singh, while addressing the 16th Foundation Day of the Indian Institute of Technology (IIT) Mandi on February 24, 2025, emphasized India's rise as a global technology hub and the world’s third-largest start-up ecosystem, home to over 1.25 lakh start-ups and 110 unicorns.

Mr. Singh encouraged young innovators and researchers at IIT Mandi to take advantage of this growth phase, contributing to technological advancements that will further strengthen India's position as a global leader in research and development (R&D). He urged students to embrace innovation and entrepreneurship, particularly in key sectors such as Artificial Intelligence (AI), Machine Learning (ML), and Digital Technologies, which are expected to drive the next phase of India’s digital transformation.

Highlighting IIT Mandi’s contributions to the field of defence technology, Mr. Singh underscored the institution’s role in AI-driven warfare, Indigenous AI chip development, cybersecurity, and quantum technology. He noted that these advancements are crucial for India’s defence self-reliance, especially as the country has already achieved 88% self-sufficiency in ammunition production. He further revealed that India’s defence exports reached approximately Rs. 23,000 crore (US$ 2.65 billion) in FY24, with an ambitious target of Rs. 50,000 crore (US$ 5.77 billion) by 2029.

Beyond defence technology, Mr. Singh highlighted India’s digital transformation, pointing to the telecom sector, which is now the world’s second-largest, and the widespread adoption of the Unified Payments Interface (UPI), which has revolutionized digital transactions. These technological breakthroughs, he emphasized, have positioned India as a leader in financial inclusion and digital connectivity.

Encouraging students at IIT Mandi, Mr. Singh called upon them to be creators and innovators rather than mere adapters. He urged them to embrace the ‘Indian Dream’, setting ambitious goals that will drive the country’s technological and economic growth.

As part of his visit to IIT Mandi, Mr. Singh also inaugurated the Guidance & Counselling Centre and the Centre for Continuing Education, both aimed at enhancing the academic ecosystem and fostering research excellence. These initiatives are expected to strengthen India’s capabilities in cutting-edge technological research and provide support to students and researchers looking to make significant contributions to the global tech landscape.

With the rapid expansion of India’s tech industry, strategic investments in AI, cybersecurity, quantum computing, and defence technology will play a critical role in shaping the nation’s future digital economy. As India moves towards becoming a global technology powerhouse, industry leaders, researchers, and policymakers must work together to ensure sustainable growth, innovation, and global competitiveness.

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