India’s Commerce and Industry Minister Piyush Goyal underscored the importance of reducing dependence on foreign technology to foster sustainable economic growth. Addressing stakeholders, he highlighted initiatives aimed at boosting domestic innovation and technological self-reliance.
Piyush Goyal stresses cutting foreign technology dependence as key to India’s economic growth and technological self-reliance in 2025.
New Delhi, October 30, 2025 – In a significant statement underscoring India’s economic strategy, Commerce and Industry Minister Piyush Goyal emphasized the critical need to reduce the country’s dependence on foreign technology as a pivotal driver of sustained economic growth. Speaking at a high-profile industry event, Goyal highlighted that technological self-reliance is essential for enhancing India’s global competitiveness and achieving long-term prosperity.
Highlighting the Importance of Domestic Technology Development
Goyal pointed out that while foreign technology has contributed to India’s development, excessive reliance could pose risks to national security and economic independence. “To ensure that India continues on its trajectory of strong economic growth, cutting dependence on foreign technology is not just desirable but vital,” he stated. The Minister stressed that indigenous research and innovation must be prioritized to create robust technology ecosystems that can support manufacturing, services, and digital sectors alike.
Government Initiatives to Encourage Innovation
The Minister outlined several ongoing government initiatives designed to promote domestic technological advancement. These include increased funding for startups, enhanced support for research and development through grants and tax incentives, and boosting collaboration between academia and industry. “Our policies are oriented towards nurturing homegrown technologies and creating an environment where Indian innovators can thrive,” Goyal affirmed.
Contextualizing the Statement Amid Global Technological Shifts
India’s focus on technological self-reliance aligns with broader global trends, where nations are re-evaluating supply chains and seeking to protect sensitive technologies amidst geopolitical uncertainties. The push towards ‘Atmanirbhar Bharat’ or self-reliant India is central to the government’s agenda, aiming to reduce import dependency across sectors.
Impact on Industry and Economic Growth
Industry experts believe that increasing domestic technology capabilities will bolster India’s manufacturing competitiveness and reduce vulnerability to international disruptions. By fostering indigenous innovation, India can move up the value chain in sectors such as electronics, software development, and advanced manufacturing, thereby driving job creation and economic resilience.
Conclusion
Commerce and Industry Minister Piyush Goyal’s call to cut dependence on foreign technology underscores a strategic shift towards greater self-reliance in India’s economic growth model. Through targeted government initiatives and an emphasis on innovation, India aims to strengthen its technological capabilities, reduce import reliance, and secure its position in the global economy.
