ENA Economy 2025-05-30 15:28:48 <p><span style="font-size:14px"><strong>New Delhi, May 30 (KNN)</strong> Finance Minister Nirmala Sitharaman, in a discussion with students at the University of Delhis Institute of Economic Growth, emphasised that Indias journey to becoming the worlds third-largest economy will be led by industries that embrace artificial intelligence and advanced technologies.</span></p> <p><span style="font-size:14px">She dismissed the notion of a divide between India and Bharat industries, stating that technological adoption, not traditional classifications, will define future growth.</span></p> <p><span style="font-size:14px">India, currently the fifth-largest economy globally, is expected to surpass Japan by the fiscal year ending March 2026, according to the International Monetary Fund.</span></p> <p><span style="font-size:14px">Sitharaman pointed out that while Indias ambition to grow rapidly is clear, productivity hasnt kept pace. To address this, both the government and private sector are identifying key areas for investment.</span></p> <p><span style="font-size:14px">Technology being adopted could have multiplied your productivity faster, she said, noting drastic changes in sectors driven by digital transformation.</span></p> <p><span style="font-size:14px">On climate transition, Sitharaman highlighted the rising costs of moving from fossil fuels to green energy. She also criticized the imposition of tariffs by some nations on products deemed not-so-green, which burdens developing countries already working toward sustainability.</span></p> <p><span style="font-size:14px">She stressed the importance of international cooperation and financing for climate action, referring to recommendations made during Indias G20 presidency on strengthening multilateral development institutions.</span></p> <p><span style="font-size:14px">Addressing Indias defence capabilities, the minister praised the technological integration across the three military branches during Operation Sindoor.</span></p> <p><span style="font-size:14px">She noted Indias growing self-reliance in defence production, though some imports remain necessary for precision operations.</span></p> <p><span style="font-size:14px">The session, moderated by NK Singh, Chairman of the 15th Finance Commission, highlighted the need to balance national security with economic growth. Singh called this a unique moment for India to shape its global role with both ambition and resilience.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42267 https://knnindia.co.in/news/newsdetails/economy/ai-tech-adoption-key-to-indias-economic-rise-finance-minister 2025-05-30 15:28:48 knnindia.co.in