While addressing Bharat Climate Forum 2025, he highlighted the need for India becoming a global champion in sunrise sectors to achieve the target of becoming a developed nation by 2047 and become a USD 32 trillion economy.

What are Sunrise sectors?

• Sunrise industry is a term used for a sector that is developing and poised for rapid growth. 
• Typically, such industries register high growth rates and have numerous start-ups and plenty of funding.
  • E.g., Semiconductor, Artificial Intelligence, Clean Mobility Systems, Genomics and Pharma, etc.

Significance of Sunrise Sectors

• Economic growth and diversification: Sectors such as renewable energy, EVs, biotechnology, etc., diversify the economy by reducing dependency on traditional industries, making it more resilient to global economic fluctuations.
• Technological advancements: IT and digital technology sectors, including AI and machine learning, have cross-sectoral transforming impact on industries like healthcare, education, and manufacturing.
• Sustainable development: Industries like renewable energy, waste management, and green technologies support India’s climate commitments such as achieving net-zero by 2070.

Challenges for Sunrise sectors in India

• Limited access to Capital: Sectors like renewable energy, biotechnology, EVs, etc., require substantial upfront investment.
• Skilling gaps: Lack of adequate Industry-Academia convergence results in skill gaps in workforce required in these sectors.
• Technological challenges: Critical technologies and components, such as semiconductors, are largely imported, making sectors vulnerable to global disruptions.