MUMBAI: Union Finance Minister Nirmala Sitharaman on Tuesday emphasized the role of technology in driving global progress, urging that innovations should be used for public good rather than being “weaponised.” Speaking at the annual Global Fintech Fest, she highlighted India’s position as a global fintech leader, citing the country’s achievements in innovation, scale, and financial inclusion.

“The simple motive is that technology should serve the public good. At no point should it be weaponised,” Sitharaman said, stressing the need for ethical stewardship of tech advancements.

She pointed to instances where inward-looking approaches have undermined the potential for global progress but stopped short of citing specific examples. Her remarks come amid growing international trade restrictions and shifting policies, including those by the US, which have affected technology, trade, and talent mobility.

As India negotiates trade agreements with the US, issues such as high tariffs on Indian goods and increased H1B visa fees—heavily impacting Indian tech professionals—remain key points of discussion.

Sitharaman’s comments underline India’s vision for technology: scalable innovation with a focus on inclusion, global collaboration, and ethical responsibility.