What is Deep Tech? Examine case for an “India Strategic Fund”.
The government of India has been focusing on self-reliance in the field of military technology, semiconductors and science-based businesses.
- Deep tech refers to those organisations which are involved in the field of technology solutions, engineering innovation, scientific advances, etc.
- On a broad level, they are involved in artificial intelligence, quantum computing, Blockchain, advanced electronics, biotechnology, etc.
Lack of funding in deep tech:
- The government is facing a cash crunch for investing in the field of deep tech, which requires huge investment. Also, the private players are not investing much in this field.
- Hence the government is promoting it through various programmes like Start-up India, Indian semiconductor mission, iDEX etc.
- Unwillingness among investors due to a longer gestation period.
So, There is a need to develop a India strategic fund for developing the deep tech sector.
Ways to create India’s strategic fund:
- To become a developed and self-reliant country, India needs world-class deep tech capabilities.
- Utilisation of unused CSR budgets.
- Text incentives.
- Preventing misuse of funds.
The government’s mission for Atmanirbhar Bharat will be given a significant push by promoting and supporting deep tech industries. It will help India to become a developed country and project it as a superpower.