Tech innovation can take India to 10% growth: FM

Calling for higher investment in technology, including artificial intelligence, Union Finance Minister Nirmala Sitharaman on Saturday said India could achieve economic growth of more than 10% if these sectors contributed more to the economy.

“Going forward, the next large investments in India’s infrastructure must focus heavily on AI, semiconductor chips and quantum computing,” she said, speaking at a fireside chat at the IIT Madras Alumni Association’s annual conference in Bengaluru. “Our MSMEs, which produce everything from basic components to aircraft parts, need AI solutions to improve productivity and compete globally.”