Deep Tech is one of the new technological advancements that set new standards in the development process. However, the question today is whether Deep Tech in India is safe. Several reports regarding technological advancements and innovation in India, like artificial intelligence, have made India take a step back.
Uncover more about Deep Tech in India and the reality behind the tech ecosystem with artificial intelligence, dive into this blog and learn everything about the innovation in India and its technology.
Deep Tech is advanced technologies like artificial intelligence, machine learning, blockchain, robotics, and biotechnology. These technological advancements are now helping to solve some complex problems and drive the improvement of industry growth. Several countries, like China and the USA, are now starting to witness this growth. However the question is: What is the standing of Deep Tech in India?
India has a stronghold in the information technology industry. Today, this country is the home to approximately 50,000 startups, and up to 12% of them have their major focus on DeepTech. The government also promotes innovation and technological advancements through Digital India and Make in India initiatives.
Indian tech talent is globally recognised. Many engineers and scientists contribute to deep tech advancements in global firms. The country has a growing AI and blockchain ecosystem. Several startups are working on solutions in healthcare, fintech, and automation.
Despite the growth, India faces key challenges in deep Tech.
Tech tech startups need high capital. However, most investors prefer quick returns. In 2023, deep tech funding in India was only $2.7 billion; in the US, it crossed $50 billion.
Innovation thrives on R&D, but India’s investment in it is low. The country spends only 0.7% of its GDP on R&D, while the US spends over 3%. Without strong research, deep Tech innovation struggles.
Many skilled professionals move abroad for better opportunities. The US and Europe attract Indian engineers with higher salaries and better resources. This affects India’s deep tech ecosystem.
Industries in India take longer to adopt deep tech soTechons. Many businesses still rely on traditional methods. The shift to AI, robotics, and automation is slow, reducing demand for deep Tech innovations.
India is taking steps to improve its deep tech ecosystem. The government launched SAMRIDH (Startup Accelerators of MeitY for Product Innovation, Development & Growth) to support startups. The National AI Strategy focuses on developing AI-driven solutions.
Companies like Tata, Reliance, and Infosys also invest in deep Tech. New policies and private investments can help India catch up.
India is not lagging but needs to overcome challenges. More funding, better R&D, and faster adoption of new technologies can push deep tech growth. With the right efforts, India can become a global leader in deep Tech.