India’s tech sector to reach over $350 billion by 2030: Rajnath Singh at IIT Mandi
India’s technological sector is witnessing rapid expansion and is projected to reach USD 300 to 350 billion in the next five years, making it a major player in the global tech landscape, according to Defence Minister Rajnath Singh. Speaking at the 16th Foundation Day celebration of the Indian Institute of Technology (IIT) Mandi, Rajnath Singh emphasised the nation’s growing prominence in technological advancements and innovation.
India’s emergence as the third-largest startup ecosystem globally, with over 1.25 lakh startups and 110 unicorns, highlights its robust entrepreneurial spirit. The Defence Minister encouraged the students of IIT Mandi to seize this period of growth and actively contribute to India’s technological progress while aiming for leadership in global research and development.
At the heart of his address, Rajnath Singh stressed the importance of creating new technologies and fostering innovation to stay ahead in the ever-evolving technological landscape. He urged students to take the lead in emerging fields such as AI, machine learning, and digital technologies, areas that are crucial to shaping the future.
As the world increasingly focuses on digital transformation, the Defence Minister also highlighted India’s strides in digital innovation. “India’s telecom sector is the second-largest globally, and with initiatives like UPI, India is setting new global standards in digital transactions. We are witnessing a digital revolution that offers immense opportunities,” he remarked.
Focusing on national security, Rajnath Singh outlined IIT Mandi’s critical role in advancing defence technologies. He lauded the ongoing collaborations with the Defence Research and Development Organisation (DRDO) and called for further involvement in AI-driven warfare, indigenous AI chip development, cybersecurity, and quantum technology. In line with India’s quest for defence self-reliance, he pointed out that India has achieved 88 per cent self-sufficiency in ammunition production and aims to grow its defence exports from Rs 23,000 crore to Rs 50,000 crore by 2029.
Urging IIT Mandi’s students to focus on technological solutions for the nation’s security needs, he spoke about the vision of a robust defence industry contributing not only to national security but also to economic growth. He expressed confidence that the students could drive this vision forward through innovation and technical expertise.
During his speech, Rajnath Singh further motivated the students by urging them to go beyond merely adapting to changing technologies and become disruptors —those who will lead the way in creating new technological paradigms. “Don’t just be adapters; become disruptors who lead innovation,” he said, urging the students to be bold and persistent in their pursuit of knowledge.
In addition, the Defence Minister inaugurated two new buildings — Guidance and Counselling Centre, and Centre for Continuing Education — at IIT Mandi.
