Finance Minister says AI, chips and quantum push can lift India beyond 10% growth

India could grow at more than 10% annually if technology sectors such as artificial intelligence, semiconductor chips and quantum computing receive larger investment, Finance Minister Nirmala Sitharaman said on Saturday. Speaking at a fireside chat of the IIT Madras Alumni Association in Bengaluru, she urged that the next wave of infrastructure spending focus on these areas. She noted that small and medium enterprises, which make everything from basic parts to aircraft components, need AI tools to boost productivity and compete worldwide. Sitharaman warned that countries already ahead in AI are calling for slower progress, but India must increase funding despite such calls. She dismissed foreign media claims that India has missed the AI bus, pointing out that several AI startups have become unicorns and should consider listing on stock exchanges. Listing, she said, offers benefits and frees founders from short‑term profit pressure. The minister said startups, which have expanded rapidly since 2014, could soon match traditional industries in economic contribution. She highlighted the space sector, where Indian startups now design and launch satellites, as a strong example of private‑led innovation. In agriculture, she cited drones for precision mapping and pilot point‑of‑sale machines that tailor fertilizer doses to each farmer’s land, crop and soil. Sitharaman credited reforms such as cleaning stressed bank assets, restoring confidence in institutions and opening strategic public‑sector enterprises to private players for the past decade’s growth. She called for a more positive outlook, saying too many naysayers hinder the country’s acceleration.