India is witnessing an unprecedented surge in conversations around deeptech, with startups increasingly venturing into cutting-edge technologies like quantum computing, geospatial systems, and cybersecurity. This wave of innovation, as highlighted in a recent dialogue with key industry leaders, is a testament to India's growing focus on leveraging deeptech to drive global leadership.
The rapid development of India’s startup ecosystem has fueled conversations about the transformative potential of deeptech. In an exclusive interaction, Srikant Sastri, Chairman of Government of India's 'Geospatial Data Promotion & Development Committee (GDPDC) observes that over 1.4 lakh startups are registered under Startup India, many driven by skilled engineers leveraging breakthroughs in quantum computing, cybersecurity and geospatial technologies. According to Sastri, these advancements have created a critical mass, pushing entrepreneurship toward deeptech solutions. “In the last four or five years, technology has grown by leaps and bounds, and the world seems to be moving ahead,” he says.
Government's Role In Deeptech Advancements
He notes, “There is a realisation that unless we get our act together and move faster, this is not going to be good for the country.” The government’s proactive approach has been instrumental, particularly in sectors like geospatial and quantum technology. By offering early-stage funding to startups, the government compensates for the private sector's hesitance, given the long gestation period associated with deeptech. Sastri highlighted, “The government has built a critical mass of startups by supporting them in deeptech.”
Sastri, who chairs the Geospatial Development and Data Promotion Committee, emphasised how liberalising geospatial regulations in 2022 unlocked immense opportunities for private enterprises and startups. “By liberalising the sector, you will unleash the potential of the private sector and startups,” he said. Despite India’s current rank of 27 in global geospatial readiness, Sastri believes the country can transform into a global leader by embracing these technologies.
The technological advancements in quantum computing, geospatial systems, and cybersecurity have been pivotal. However, external compulsions have also played a role. “Our neighboring countries, considered potential threats, are advancing rapidly in these fields,” the speaker noted, underlining the urgency to bridge the gap. Quantum technology, on the other hand, is essential for national security and economic stability. Sastri warns, “Quantum computers that China has can break your financial system, your insurance system, your telecom system.”
Deeptech extends beyond geospatial and quantum. Cyber-security systems, incorporating AI and IoT, are also gaining momentum. Sastri drew parallels with India's success in financial services, saying, “UPI is a path-breaking thing we’ve done for the world, and we want to replicate that success in other areas as well.”
Future Projections For Geospatial And Quantum Markets
The global geospatial market, valued at USD 220 billion, offers immense potential for India. Sastri suggests that deregulation and private sector involvement could catalyse exponential growth. Drawing comparisons with the space sector, which is projected to grow tenfold by 2030, Sastri remarks, “I don’t see why geospatial cannot be the same, and I don’t see why quantum cannot be the same.”
He envisions similar growth trajectories for these sectors, bolstered by liberalisation and strategic investments. Sastri's optimism reflects a broader belief in India’s ability to achieve global leadership in deeptech, provided the ecosystem aligns with innovation and collaboration.
Sastri concluded with an inspiring vision, “We can grow 10 times in each of these sectors between now and 2030.” His remarks underline the transformative power of deeptech, supported by government initiatives, private investments, and a robust startup ecosystem.
