ENA Sectors 2024-12-20 14:49:24 <p><span style="font-size:14px"><strong>New Delhi, 20 Dec (KNN)</strong> India is positioning itself as an emerging powerhouse in the global deep tech sector, with breakthrough developments across artificial intelligence, green hydrogen, space technology, and biotechnology, according to a comprehensive report titled India's Deep Tech Revolution. </span></p> <p><span style="font-size:14px">The study, jointly produced by Speciale Invest and Oister Global, projects that these technological advances will play a crucial role in India's economic growth, potentially contributing to a USD 7 trillion economy by 2030. </span></p> <p><span style="font-size:14px">The report particularly emphasises India's space technology sector, which could capture 10 per cent of the global space economy, valued at USD 700 billion, by the end of the decade.</span></p> <p><span style="font-size:14px">The surge in deep tech innovation is being fuelled by multiple factors, including the return of Indian-origin scientists, the strength of the country's academic institutions, and increased private capital investment. </span></p> <p><span style="font-size:14px">Government support has proven instrumental, with initiatives like the National Deep Tech Start-up Policy and programs from the Biotechnology Industry Research Assistance Council (BIRAC) fostering commercial technology development. </span></p> <p><span style="font-size:14px">Premier institutions such as the Indian Institutes of Technology (IITs) and the Indian Institute of Science (IISc) are playing pivotal roles in transforming research into marketable products.</span></p> <p><span style="font-size:14px">Despite its promising trajectory, India's deep tech sector faces significant hurdles, including substantial capital requirements, challenges in technology validation, and potential delays in market adoption. </span></p> <p><span style="font-size:14px">The report advises founders to focus on building diverse teams and developing robust intellectual property portfolios, while recommending that investors explore various funding mechanisms, including grants and debt financing, to support innovation in the sector.</span></p> <p><span style="font-size:14px">Vishesh Rajaram, Managing Partner at Speciale Invest, emphasised the transformative potential of India's deep tech sector. </span></p> <p><span style="font-size:14px">He noted that the country is well-positioned to address global challenges through science and engineering-driven solutions, calling for increased collaboration between entrepreneurs, investors, and policymakers to fully realise India's potential as a global innovation leader.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40326 https://knnindia.co.in/news/newsdetails/sectors/deep-tech-sector-to-become-usd-7-tn-economy-by-2030-report 2024-12-20 14:49:24 knnindia.co.in