Finance minister Nirmala Sitharaman
Bengaluru: Union finance minister Nirmala Sitharaman Saturday called for accelerated investments in artificial intelligence (AI), semiconductor manufacturing and quantum computing, describing them as critical to India’s next phase of growth and self-reliance.
Speaking at IIT Madras Alumni Association’s Sangam 2026 summit in Bengaluru, Nirmala said India needs stronger funding mechanisms for deep-tech and hardware startups, many of which face long gestation periods before generating revenue. Startups in these areas often take 5-7 years to commercialise their products, making patient capital and early-stage funding crucial, according to her.
The minister said India’s growing technology ecosystem can play a vital role across sectors ranging from agriculture and renewable energy to advanced manufacturing. She noted that while India has made significant progress in expanding innovation and entrepreneurship, emerging sectors such as semiconductors, AI and quantum technologies require sustained support and long-term investment. She also highlighted the opening up of the space sector to private participation as an example of how policy reforms can create opportunities for innovation and entrepreneurship.
Stressing that India has the potential to achieve over 10% GDP growth, she said greater efforts are needed to strengthen the country’s deep-tech ecosystem and position it as a global technology leader. You Can Also Check: Gold Rate in Bengaluru | Silver Rate in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru | Bengaluru AQI | Weather in Bengaluru | Petrol Price in Bengaluru | Diesel Price in Bengaluru | CNG Price in Bengaluru | LPG Price in Bengaluru Stay updated with the latest Bengaluru news.
The minister said collaboration between academia, industry and govt would be essential to translate technological innovation into economic growth. Union education minister Pralhad Joshi was also present at the event. Download the TOI App.