IITMAA Sangam 2026 in Bengaluru brings policymakers, industry leaders and innovators together on India’s self-reliance roadmap
Bengaluru, September 26, 2026: India needs to accelerate investments in artificial intelligence, semiconductor manufacturing and quantum computing, while creating patient capital for deep-tech and hardware startups, Union Finance and Corporate Affairs Minister Nirmala Sitharaman said at a major technology and innovation summit in Bengaluru on Saturday.
Addressing the 7th edition of IITMAA Sangam 2026, organised by the IIT Madras Alumni Association at Taj MG Road, Sitharaman said deep-tech and hardware ventures often require five to seven years to mature and therefore need longer-term funding support and new early-stage financing mechanisms.
She also called for wider adoption of AI by MSMEs to improve productivity and strengthen their ability to compete globally. Technology and innovation, she said, must reach sectors ranging from agriculture and renewable energy to advanced manufacturing.
Sitharaman said India has the potential to achieve more than 10 per cent GDP growth, but sustained progress would require greater efforts across sectors and stronger collaboration between government, academia, industry and entrepreneurs.
Held under the theme ‘Atmanirbhar Bharat – Building a Self-Reliant India’,IITMAA Sangam 2026 brought together Union ministers, senior industry executives, technology entrepreneurs, academics and deep-tech innovators to discuss India’s technological and economic priorities.
The summit focused on sectors critical to India’s strategic future, including AI, quantum computing, semiconductors, defence technology, space, digital financial infrastructure and sustainable energy.
Union Education Minister Pralhad Joshi highlighted IIT Madras’ contribution to India’s innovation ecosystem and said the alumni network had expanded from 16 to 51 active chapters over the past three years.
IIT Madras Director Prof. V. Kamakoti said the institute has incubated 583 startups with a combined valuation of around ₹83,000 crore and filed more than 400 patents over the past three financial years. Its technology education initiatives have reached around 53,000 students, while NPTEL-SWAYAM courses serve approximately 1.5 million learners.
The Bengaluru summit also featured discussions on sovereign AI, advanced defence technologies, space capabilities, maritime trade and semiconductor supply chains. Leaders from Sarvam AI, Skyroot Aerospace, GalaxEye and The ePlane Company, along with representatives from Reliance Intelligence, Flipkart, NVIDIA, Texas Instruments and Tata Electronics, shared their perspectives.
Zoho Corporation Chief Scientist and Co-founder Sridhar Vembu stressed the importance of developing indigenous technologies to reduce strategic dependence on foreign platforms.
IITMAA President and Sangam 2026 Chair Sridhar Boovaraghavan highlighted the association’s expanded Career and Life Coaching initiative, aimed at connecting IIT Madras students with alumni mentors for personal, academic and professional guidance.
The conference, supported by U-SOLAR and IndiaAssetz along with other industry partners, concluded with an awards ceremony followed by a cultural performance by acclaimed musician Guitar Prasanna.
