THE FUTURE IS NOW

India’s technological progress stays on course. It only needs to gather pace

AT THE INDIAN SCIENCE Congress in Tirupati in January this year, Prime Minister Narendra Modi envisioned India among the world’s three top science and technology powers by 2030. Realistically, getting there will take longer. Still, though, let’s consider the successes: a space programme— among the world’s top five—close to putting an Indian on the moon, a network of 11 satellites that has revolutionised communication, indigenous nuclear technology contributing to power generation and an arsenal and human resources that have made India the largest IT industry sourcing destination, including 67 per cent of the $130 billion US market.

There’s more. A focus on nanotechnology, including funding of Rs 1,000 crore, is poised to transform pharmaceutical manufacturing. Assocham and TechSci Research predict that soon one of every four nanotechnology industry professionals in the world will be an Indian. Other technologies are looking up too. There are plans to double investment in green energy research to Rs 9,300 crore. Nasscom projections suggest that the analytics industry will grow to $16 billion by 2025.

As digital platforms expand, the internet economy could be 5 per cent of GDP by 2018. And with the ‘Internet of Things’ gathering momentum, newer devices will hugely enhance demands for intelligent computing and semiconductors. Already a world leader in biotechnology, the domestic industry is valued at $11 billion with a compounded annual growth rate of 20 per cent. Perhaps, Modi’s dream won’t be wishful thinking.