India’s technology sector is on an upward trajectory and is projected to reach $300-350 billion in the next five years, Defence Minister Rajnath Singh announced while addressing students at the Indian Institute of Technology (IIT) Mandi. He highlighted India’s rapid digital and technological advancements and urged young innovators to take charge of global innovation and entrepreneurship.
With more than 1.25 lakh start-ups and 110 unicorns, India has emerged as the third-largest start-up ecosystem in the world. Singh emphasized the need for young minds to go beyond adaptation and become disruptors in the ever-evolving technological landscape.
“The biggest challenge today is adapting to rapidly changing technology and creating new technologies. Don’t just be adapters; become the disruptors who lead innovation,” he remarked, encouraging students to leverage the country’s burgeoning opportunities in artificial intelligence, machine learning, and digital technologies.
The Defence Minister underscored the importance of IIT Mandi’s role in national security and defence technology development. He acknowledged the institution’s existing collaboration with the Defence Research and Development Organisation (DRDO) and called for further contributions in AI-driven warfare, indigenous AI chip development, cybersecurity, and quantum technology.
“India has achieved 88% self-sufficiency in ammunition production, and defence exports have reached approximately ₹23,000 crore in 2023-24. Our goal is to achieve ₹50,000 crore in defence exports by 2029,” Singh stated, reinforcing the government’s commitment to building a robust, self-reliant defence industry.
Singh also highlighted India’s digital transformation, noting that the country’s telecom sector is now the second-largest in the world. Citing the success of initiatives like UPI, he emphasized how India is setting global benchmarks in digital transactions.
“We are in the midst of an unparalleled digital revolution,” he said, urging students to actively contribute to strengthening India’s digital ecosystem and technological prowess.
India’s tech sector is set to reach 300-350 US billion dollars in 5 years, with 1.25L+ startups & 110 unicorns, making it the 3rd largest #startup ecosystem. At #IITMandi’s 16th Foundation Day, Raksha Mantri Shri @rajnathsingh emphasized the role of #innovation in #AI,… pic.twitter.com/mJvdYPEmEV
— Ministry of Defence, Government of India (@SpokespersonMoD) February 24, 2025
The Minister encouraged students to aspire towards making India a developed nation by 2047, following the principles of Initiate, Improve, and Transform (IIT). He stressed the importance of resilience, bold thinking, and collaborative efforts in overcoming national challenges through technology and innovation.
“This is the time of the ‘Indian Dream’—a time when our aspirations and achievements can redefine the global landscape,” he said, motivating students to set ambitious goals and contribute significantly to India’s technological and economic growth.
Team BharatShakti
