Summary:

India's technology sector is expanding rapidly, with revenues projected to reach Rs.26,00,400-30,33,800 crore (US$ 300-350 billion) in the next five years. Union Minister Rajnath Singh, speaking at IIT Mandi's 16th Foundation Day, highlighted India's rise as the world's thirdlargest start-up ecosystem, with over 1.25 lakh start-ups and 110 unicorns. He urged students to drive technological advancements.

He stressed the importance of fostering a culture of innovation, particularly in AI, machine learning, and digital technologies. He acknowledged IIT Mandi's contributions to defence technologies, including AI-powered warfare and cybersecurity. India's defence exports stood at Rs. 23,000 crore in FY24, with a target of Rs. 50,000 crore by 2029. He encouraged students to innovate and embrace the 'Indian Dream,' and inaugurated new centres to support research and academic growth at IIT Mandi.

Source: IBEF

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