Finance Minister Nirmala Sitharaman said India could achieve economic growth above 10%, highlighting technology, innovation, startups and digital solutions as key drivers of productivity across sectors.
Union Finance Minister Nirmala Sitharaman said India has the potential to achieve economic growth of more than 10%, while emphasising the importance of technology, innovation and wider participation across sectors.
Speaking at a fireside chat organised by the IIT Madras Alumni Association in Bengaluru on September 26, 2026, the Finance Minister said faster economic expansion would support India's broader development objectives, including the vision of Atmanirbhar Bharat and Viksit Bharat.
She also stressed that achieving higher growth would require coordinated efforts from businesses, entrepreneurs, policymakers, institutions and citizens.
Sitharaman highlighted the increasing role of technology and innovation in improving productivity and creating new economic opportunities.
According to her, developments taking place across different parts of India need to be recognised and adopted more widely. Technologies that improve efficiency, reduce costs and strengthen access to markets can help businesses and other sectors contribute more effectively to economic growth.
The Finance Minister also underlined the importance of encouraging innovation beyond established industries. Wider adoption of new technologies could help India improve productivity while supporting the country's long-term economic ambitions.
Sitharaman pointed to the significant expansion of India's startup ecosystem since 2015.
The growth of startups has created new businesses, technologies and employment opportunities across several sectors. She said the ecosystem has the potential to make a substantial contribution to India's economy in the years ahead.
Startups working in areas such as technology, financial services, agriculture and other emerging industries can play a role in developing new products and solutions.
The Finance Minister's comments also highlighted the need to encourage innovation and ensure that successful technological developments can be adopted more widely.
Agriculture was another area highlighted by Sitharaman as an example of how technology can improve productivity.
Digital and technological interventions are increasingly being used to connect farmers and producers with markets while supporting agricultural operations.
Technology can assist with several stages of farming, including harvesting, land preparation and crop management. Such applications can potentially help farmers make more informed decisions and improve the efficiency of agricultural activities.
Sitharaman referred to the use of drones and aerial geospatial instruments for precision mapping and agricultural applications.
These technologies can provide detailed information about farmland and help support more targeted agricultural activities.
Technology is also being used to accelerate harvesting and prepare agricultural land for subsequent crops. Such applications can help reduce delays between farming cycles and improve the utilisation of agricultural resources.
The increasing availability of digital tools could therefore contribute to more efficient farming practices when combined with appropriate infrastructure and farmer awareness.
The Finance Minister also discussed the pilot testing of Point-of-Sale (POS) machines for fertiliser distribution.
These systems can record information related to farmers, their land and the crops being cultivated. The information can then be used to provide an indication of the quantity of fertiliser that may be appropriate based on factors such as soil conditions, irrigation and crop requirements.
The objective is to make fertiliser distribution more data-driven while helping address concerns surrounding excessive use of agricultural inputs.
Sitharaman noted that farmers would continue to have the freedom to choose the fertilisers they purchase. At the same time, technology could provide information that helps farmers understand the potential requirements of their crops and land.
The approach could help address excessive use of fertilisers and pesticides, which can have consequences for soil and water quality.
By combining agricultural knowledge with data-based tools, technology could support more efficient resource utilisation while maintaining farmers' decision-making role.
The Finance Minister's comments extended beyond agriculture, with a broader focus on technology adoption across the Indian economy. From startups and manufacturing to agriculture and digital services, technological innovation can influence productivity and business efficiency.
However, wider adoption requires businesses and institutions to recognise useful technologies and adapt them to local requirements. Building awareness, infrastructure and skills will also be important for ensuring that technological solutions reach more users.
India's pursuit of higher economic growth is closely connected with its efforts to improve productivity and encourage innovation.
Sitharaman's remarks highlighted technology as one of the tools that could help India achieve stronger economic performance. At the same time, she stressed that higher growth would require contributions from different sections of society and the economy.
The growth of startups and increasing use of technology in agriculture demonstrate how innovation is expanding beyond traditional technology companies.
Higher economic growth, according to Sitharaman, would support India's broader objectives of Atmanirbhar Bharat and Viksit Bharat.
Achieving these goals would involve strengthening domestic capabilities, encouraging entrepreneurship, improving productivity and expanding the adoption of modern technologies.
The Finance Minister's remarks placed innovation and technology at the centre of this development approach, while also emphasising the importance of recognising successful initiatives emerging across the country.
Conclusion
Nirmala Sitharaman has said India can potentially achieve more than 10% economic growth, with technology and innovation playing an important role. She highlighted the expanding startup ecosystem and technological applications in agriculture, including drones, geospatial tools and POS-based fertiliser distribution. Wider adoption of such solutions, along with coordinated efforts across sectors, could support productivity and India's long-term economic development objectives.