India can achieve over 10% economic growth, says Sitharaman

Union Finance Minister Nirmala Sitharaman expressed confidence on Saturday that India could achieve economic growth of more than 10 per cent, emphasizing the critical role of technology and innovation across all sectors. Speaking at a fireside chat organized by the IIT Madras Alumni Association in Bengaluru, Sitharaman stated that higher economic growth would accelerate India's journey towards Atmanirbhar Bharat and Viksit Bharat, though it would require "a lot more effort" from all sides.

Sitharaman cited the growth of startups since 2015 as a significant contributor to achieving this target. She emphasized the transformative potential of technology in agriculture, highlighting how technological interventions have made a "spectacular difference" in connecting producers to markets and improving productivity. She cited examples including the use of technology to speed up harvesting, drones for precision land mapping, and point-of-sale machines in fertiliser distribution to prevent pilferage and optimize farmer education on appropriate fertiliser quantities based on soil and crop conditions.

The Finance Minister stressed the need to overcome cynicism and encourage positive thinking about India's economic prospects. She noted that excessive use of pesticides and fertilisers was contaminating soil and water, and that technology could help address this environmental concern while contributing to optimal production and economic growth.