Piyush Goyal: India’s growth will be shaped by new technologies and innovation

Union Minister Piyush Goyal 
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Union Minister Piyush Goyal on Saturday said that new technologies will define India’s growth story in the coming years.

Addressing the IIT Madras Alumni Association’s Sangam 2025 event here, he said, “Your science, your technology, combined with this vibrant startup ecosystem, R&D, and innovation, will shape the India growth story of the future.” Goyal said India is transforming from a country known for seeking jobs to becoming a nation of job creators.

“Of course, in some small measures, we have tried to be part of the startup ecosystem, the startup fund of funds, and various other initiatives to support the startup ecosystem, coupled with the work organisations like IIT Madras have done,” he said.

He said India’s policies are designed to build a future-ready nation—one that embraces technology, adapts to new ways of working and living, and leads in areas like artificial intelligence, machine learning, quantum computing, and data analytics.

“We don’t shy away from new technologies. We believe these technologies will help us as we climb the growth chart. Absorbing these technologies in our activities—in manufacturing, businesses, and the service sector—is holding us in good stead, helping us become the fastest-growing large economy in the world,” he said.

According to him, it helps India buck the trend of slowing global trade while continuing to expand its international engagements.

Published on July 5, 2025