The Department of Economics, Jagannath Barooah University, Jorhat, organised a special lecture titled “Technology, Creative Destruction and Economic Development: Understanding the Nobel Prize in Economic Sciences, 2025” on December 6, 2025, at the New Conference Hall of the University. The programme was conducted in hybrid mode and witnessed the participation of around 120 students, research scholars and faculty members. The session was inaugurated by Prof. Jyoti Prasad Saikia, Hon’ble Vice-Chancellor of Jagannath Barooah University. In his inaugural address, Prof. Saikia highlighted the relevance of Joseph Schumpeter’s concept of creative destruction and its importance in understanding technological change and economic transformation. The resource person, Prof. Hiranya K. Nath, from Sam Houston State University, USA, delivered the keynote lecture virtually. In his address, Prof. Nath explained how technological innovations throughout history have shaped economies, emphasising the disruptive yet transformative role of modern technology. Drawing parallels with contemporary advancements such as artificial intelligence, he elaborated on how innovation acts as a driving force behind sustained economic growth. Referring to the works of noted economic historian Joel Mokyr, Prof. Nath discussed the role of useful knowledge—both propositional and prescriptive—in promoting long-term economic development. He also highlighted the pioneering contributions of Nobel laureates Philippe Aghion and Peter Howitt, whose models explain endogenous innovation and the process of creative destruction within modern economic frameworks. Earlier, the welcome address was delivered by Dr. Ashrafuzzaman Chowdhury, Head, Department of Economics. The introduction of the resource person was done by Dr. Ranjit Khanikar, Assistant Professor. The programme was attended by Dr. Minakshi Phukan Hazarika, Dean, Faculty of Social Sciences and Humanities, and Dr. Mrinal Nath, Head, Department of Geography, along with other faculty members, scholars and students.The session concluded with a vote of thanks proposed by Probenson Terang, acknowledging the valuable insights shared during the lecture and the active participation of the audience.