DeepTech Key To Next Wave Of Innovation In Indian Startup Ecosystem: MoS Chandrasekhar
Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, on Tuesday stressed upon the pivotal role of deep tech in India's digital growth. He stated that deep tech will play a significant role in the next wave of expansion of India’s startup ecosystem and innovation in general.
Speaking virtually at the Nasscom Future Forge event in Bengaluru, Chandrasekhar underlined the significance of the digital economy, which he said has witnessed remarkable growth in recent years, currently accounting for around 11.5 per cent of India's GDP.
The government's ambitious target is to increase this share to 20 per cent by 2026, with a strong emphasis on deep tech and innovation, he added.
The minister noted that the digital sector is growing at a remarkable pace, outpacing other segments of the economy by two and a half times.
Chandrasekhar articulated the government's multifaceted approach to deep tech, citing various key areas of focus, including semiconductors, artificial intelligence (AI), high-performance computing, quantum computing and cybersecurity. He said that the central government is dedicated to building capabilities and supporting startups in these domains.
“A multitude of companies is now emerging in this ecosystem, creating cutting-edge technologies, patents, intellectual property. The focus is not just on scale, size or customer numbers but on the critical technologies developed by deep tech startups, including algorithms, learning models, and foundational models. These innovations apply AI to address real-life challenges, such as the next generation of AI chips, edge AI chips, and cybersecurity platforms that leverage a combination of artificial intelligence and core technologies," said Chandrasekhar.
The minister also highlighted India's evolving role in the technology landscape. While India has been known for its IT and software services, it is now positioning itself as a hub for cutting-edge technologies and intellectual property (IP) creation, he concluded.
