Union Budget 2025: India’s rise as a global innovation leader with deep tech in focus

India Budget: India's DeepTech ecosystem is on the brink of significant growth, driven by advancements in AI, blockchain, and other technologies. Government policies, funding opportunities, and strong public-private partnerships are essential to overcome chal…
Nadia Huels · 6 days ago · 2 minutes read


India's DeepTech Revolution: Unlocking Innovation and Growth

The Dawn of DeepTech

India's DeepTech ecosystem is poised for explosive growth, fueled by the convergence of advanced technology and entrepreneurial spirit. This burgeoning sector encompasses a vast array of technologies, including Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Blockchain, and Virtual Reality (VR). With its unique blend of talent, ambition, and government support, India has emerged as a hotspot for transformative ideas in DeepTech.

Driving Growth: Policies and Partnerships

The Indian government has recognized the potential of DeepTech, implementing initiatives such as the Draft National DeepTech Start-up Policy and establishing funding mechanisms to support innovation.

Furthermore, partnerships between academia and industry are propelling growth, creating fertile ground for research and development.

Overcoming Key Challenges

Despite its promise, DeepTech startups face challenges, primarily in accessing funds and navigating regulatory landscapes. The long gestation period for research and commercialization can also be a hurdle.

Expectations for Budget 2025

The upcoming Budget 2025 presents an opportunity to catalyze DeepTech growth. Recommendations for support include:

  • Establishment of DeepTech VC funds
  • Streamlined access to government grants
  • Nurturing DeepTech talent through industry-academia-government partnerships
  • Strengthening IP protection and commercialization hubs
  • Increased R&D funding and establishment of world-class research hubs
  • Incentives for early-stage DeepTech startups
  • Modernization of infrastructure and establishment of innovation districts
  • Expansion of incubator and accelerator programs
  • Incentives for international collaborations
  • Simplified regulatory processes for testing and deploying DeepTech
  • Promotion of green technology and sustainable innovations

Expert Insight

"The Government of India's focus on DeepTech is commendable. With the right policy framework and support, India can become a global leader in this rapidly evolving field." - Raja Lahiri, Partner and Technology Industry Leader, Grant Thornton Bharat

Conclusion

India's DeepTech revolution holds immense potential for addressing global challenges, fostering economic growth, and driving societal progress. By addressing key challenges and supporting innovation, the government can position India as a leading hub for transformative DeepTech solutions.