Nirmala Sitharaman backs India’s 10% plus growth potential, highlights role of startups, technology
Sitharaman highlighted the rapid expansion of India's startup ecosystem since 2015 and said startups could play a major role in driving economic growth in the coming years
- Sep 26, 2026,
- Updated Sep 26, 2026 7:40 PM IST
Union Finance Minister Nirmala Sitharaman said India can achieve economic growth of more than 10 per cent, but stressed that reaching the target would require greater adoption of technology, innovation and coordinated efforts across sectors.
Speaking at a fireside chat organised by the IIT Madras Alumni Association in Bengaluru on Saturday, Sitharaman said the possibility of India recording double-digit growth was realistic, according to PTI.
“It is possible to reach 10 plus growth, and I'm not just saying it to pep you all up. It is possible,”
She, however, said achieving higher growth would require “a lot more effort” from all stakeholders. According to the Sitharaman, faster economic expansion would also support India's ambitions of building an Atmanirbhar Bharat and achieving the goal of a Viksit Bharat.
READ THIS: This is not a tax, cess, surcharge...: FM Sitharaman explains what the new UPI MDR really means
Startups can contribute significantly to growth
Sitharaman highlighted the rapid expansion of India's startup ecosystem since 2015 and said startups could play a major role in driving economic growth in the coming years.
She also called for a more positive approach towards India's economic and technological progress, urging people to recognise developments taking place across the country.
“We have too many naysayers. We have too many people who have vicarious pleasure being derived if India fails. We really cannot afford that. We need to nudge these people to think positive,”
The finance minister said innovations emerging from India's startup ecosystem need to reach traditional sectors of the economy to create a broader impact.
“So, with the rapid movement of technology, the innovations which happen in startups will have to get into every sector,”
Technology transforming agriculture
Sitharaman pointed to agriculture as an example of how technology can improve productivity and connect farmers with markets.
She said technological interventions had made a “spectacular difference” in the sector by improving the connection between producers and markets. Technology is also helping speed up harvesting and prepare farmland for the next crop.
The minister highlighted the use of drones and aerial geospatial instruments for precision mapping of land parcels, replacing processes that were earlier carried out manually.
“So the sooner these technologies reach these sectors, the better it is for India. You will be optimally producing things and therefore adding to the growth,”
ALSO READ: Why can’t India just stop buying Russian crude oil? FM Nirmala Sitharaman explains
POS machines being tested for fertiliser distribution
Sitharaman also spoke about the use of technology in fertiliser distribution, citing point-of-sale (POS) machines as an example.
She said the system, which is currently under pilot testing, records details such as the farmer, land and crop being cultivated. It can then provide information on the quantity of fertiliser that may be sufficient depending on soil, irrigation and crop conditions.
The minister clarified that farmers would continue to have the freedom to purchase fertilisers, while the technology would provide them with information to guide their usage.
(With inputs from PTI)
Union Finance Minister Nirmala Sitharaman said India can achieve economic growth of more than 10 per cent, but stressed that reaching the target would require greater adoption of technology, innovation and coordinated efforts across sectors.
Speaking at a fireside chat organised by the IIT Madras Alumni Association in Bengaluru on Saturday, Sitharaman said the possibility of India recording double-digit growth was realistic, according to PTI.
“It is possible to reach 10 plus growth, and I'm not just saying it to pep you all up. It is possible,”
She, however, said achieving higher growth would require “a lot more effort” from all stakeholders. According to the Sitharaman, faster economic expansion would also support India's ambitions of building an Atmanirbhar Bharat and achieving the goal of a Viksit Bharat.
READ THIS: This is not a tax, cess, surcharge...: FM Sitharaman explains what the new UPI MDR really means
Startups can contribute significantly to growth
Sitharaman highlighted the rapid expansion of India's startup ecosystem since 2015 and said startups could play a major role in driving economic growth in the coming years.
She also called for a more positive approach towards India's economic and technological progress, urging people to recognise developments taking place across the country.
“We have too many naysayers. We have too many people who have vicarious pleasure being derived if India fails. We really cannot afford that. We need to nudge these people to think positive,”
The finance minister said innovations emerging from India's startup ecosystem need to reach traditional sectors of the economy to create a broader impact.
“So, with the rapid movement of technology, the innovations which happen in startups will have to get into every sector,”
Technology transforming agriculture
Sitharaman pointed to agriculture as an example of how technology can improve productivity and connect farmers with markets.
She said technological interventions had made a “spectacular difference” in the sector by improving the connection between producers and markets. Technology is also helping speed up harvesting and prepare farmland for the next crop.
The minister highlighted the use of drones and aerial geospatial instruments for precision mapping of land parcels, replacing processes that were earlier carried out manually.
“So the sooner these technologies reach these sectors, the better it is for India. You will be optimally producing things and therefore adding to the growth,”
ALSO READ: Why can’t India just stop buying Russian crude oil? FM Nirmala Sitharaman explains
POS machines being tested for fertiliser distribution
Sitharaman also spoke about the use of technology in fertiliser distribution, citing point-of-sale (POS) machines as an example.
She said the system, which is currently under pilot testing, records details such as the farmer, land and crop being cultivated. It can then provide information on the quantity of fertiliser that may be sufficient depending on soil, irrigation and crop conditions.
The minister clarified that farmers would continue to have the freedom to purchase fertilisers, while the technology would provide them with information to guide their usage.
(With inputs from PTI)