Large Investments in India’s Infrastructure Must Focus on AI, Semiconductor Chips and Quantum Computing: Finance Minister

The seventh edition of IITMAA Sangam, the flagship annual conference of the IIT Madras Alumni Association (IITMAA), concluded at the Taj MG Road, Bengaluru, bringing together policymakers, industry leaders, technology pioneers, academics, entrepreneurs and innovators to discuss India’s journey towards self-reliance.

Held around the theme ‘Atmanirbhar Bharat – Building a Self-Reliant India’, the summit focused on the strategic and economic priorities required to strengthen India’s position across critical sectors, including artificial intelligence, defence, space, digital financial infrastructure, semiconductor manufacturing and sustainable infrastructure.

The summit was inaugurated by Pralhad Joshi, Minister of Education, Government of India, along with Vice Admiral Sanjay Sadhu, Controller of Warship Production & Acquisition, Indian Navy; Professor V. Kamakoti, Director, IIT Madras; Sridhar Vembu, Chief Scientist and Co-founder, Zoho Corporation; Goda Ramkumar, VP Data Science, Flipkart; Professor M Vidyasagar, FRS; Pratyush Kumar, Co-founder, Sarvam AI, among others.

Addressing the gathering, Nirmala Sitharaman, Minister of Finance and Corporate Affairs, Government of India, said the next major investments in India’s infrastructure must focus heavily on AI, semiconductor chips and quantum computing.

She said India’s transformation has been driven by efforts to strengthen institutions, restore confidence and open sectors to private participation, while creating an environment for young people, entrepreneurs and innovators to contribute to economic growth.

Highlighting the potential of India’s MSME sector, Sitharaman said businesses producing everything from basic components to aircraft parts need AI solutions to improve productivity and compete globally. She also called for patient capital and new early-stage funding mechanisms for pre-revenue deep-tech and hardware startups.

“Technology and innovation must reach every sector, from agriculture and renewable energy to advanced manufacturing,” she said, adding that IIT Madras’ initiative to create a fund to support startups demonstrates how academia, industry and government can work together.

Focus on self-reliance and technology

Pralhad Joshi, Minister of Education, Government of India, said IITMAA Sangam serves as a convergence point for technology, academia, industry, entrepreneurship and public service, supporting India’s journey towards self-reliance and Viksit Bharat 2047.

He highlighted the growth in India’s electricity generation capacity, which has increased from 249 GW in 2014 to 552 GW, including around 310 GW of non-fossil capacity. He also noted that the national grid has recently managed a peak demand of 281 GW, with nearly one-third met through renewable energy.

Joshi also highlighted IIT Madras’ contribution to entrepreneurship and innovation, noting that the institute has 560 startups, including 109 incubated during 2025–26, with a collective valuation of ₹80,000 crore. The institute has also recorded 472 patents and received ₹950 crore in alumni contributions.

Deep technology critical to national security

Sridhar Vembu, Chief Scientist and Co-founder, Zoho Corporation, highlighted the growing importance of technology to national security and economic sovereignty.

He said critical dependence on foreign technology can create strategic vulnerabilities, while the increasing use of automation and AI presents opportunities to drive productivity and economic growth.

Vembu also highlighted the importance of developing indigenous alternatives to foreign technology platforms and monopolies, pointing to India’s UPI ecosystem as an example of technology infrastructure developed at scale within the country.

He stressed that developing deep technology across sectors is essential for strengthening India’s national and economic sovereignty.

Strengthening the alumni ecosystem

Sridhar Boovaraghavan, President of IITMAA and Chair of Sangam 2026, said the growth of Sangam reflects the IIT Madras alumni community’s commitment to supporting India’s self-reliant future.

He highlighted the expansion of the association’s Career and Life Coaching (CLIC) initiative, which aims to ensure that every IIT Madras student is paired with a dedicated alumni mentor for personal, academic and professional guidance.

Professor V. Kamakoti, Director, IIT Madras, highlighted the institute’s efforts to expand access to technology education and strengthen India’s innovation ecosystem. IIT Madras programmes have reached around 53,000 students, while NPTEL-SWAYAM courses serve around 1.5 million learners.

He also noted that IIT Madras has filed more than 400 patents over the last three financial years and has incubated 583 startups with a combined valuation of around ₹83,000 crore. Around 75% of startups incubated over the last two years have come from outside IIT Madras.

Discussions span AI, defence and semiconductors

The summit featured panel discussions and fireside sessions covering sovereign AI, next-generation maritime trade, advanced defence capabilities and semiconductor supply chains.

Representatives from organisations including Reliance Intelligence, Flipkart, NVIDIA, Texas Instruments and Tata Electronics participated in discussions examining the technologies and infrastructure needed to strengthen India’s strategic capabilities.

The event concluded with an award ceremony followed by a cultural performance by musician Guitar Prasanna.