Despite significant investments, such as a proposed ₹1 lakh crore research and development fund for the private sector and startups, much of the technology developed by Indian talent abroad is being bought back by Indian industries from foreign markets, Union Minister for Education Dharmendra Pradhan stated on Tuesday (May 5, 2026).
Delivering the key note address at IIT Madras Technology Summit in New Delhi, Mr. Pradhan said, “Many successful startups and unicorns have already emerged from IIT campuses, highlighting the strength of this ecosystem. Despite this, there is a gap. This indicates a need to build and invest in our own products domestically. With a strong internal market, India has the advantage of being both producer and consumer.”
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“A key question is why are we not innovating enough within our own country? Science and technology must move to the forefront of national development, with a human-centric approach that brings tangible benefits to society,” he further observed, adding, “India has immense potential to lead globally, especially through its premier institutions like the IITs.”
The summit saw the unveiling of Bodhan AI, a Centre of Excellence incubated as a Section 8 company and supported by the Ministry of Education. The initiative is developing the Bharat EduAI Stack, a sovereign digital public infrastructure for education, with a national mission to train over 1 million teachers in AI-enabled teaching by 2027.
