Budget 2020: New Economy Policies target on innovation and Quantum Technology
The Indian government announced to invest ₹8000 crores ($1.12 billion) in quantum computing research over five years. The scheme will boost the research for technology under the National Mission of Quantum Technology and Application (NM-QTA) project. The Ministry of Electronics and IT has signed an agreement with Israel for joint research in 27 possible areas which include quantum computing as one of the potential segments are providing financial support for joint research activities carried out by Indian and Israeli researchers on Quantum devices And Quantum Technologies for sensing imaging and communication. The aim of the government will be helped and encouraged the public and businesses to improve access through digital technologies such as Artificial intelligence, internet of things and data analytics. Nowadays, all are in the race with quantum technologies and want to invest on a larger scale, which is the biggest investment till now. This is the right time to devote for quantum technology as companies like IBM, google so on. Some of the start-up, as well as incubation centre, is also working on it like QRACE, Xanadu so on.
India’s investment comes quite late as plenty of nations have already allotted grants for research in the area. In 2016, the European Commission announced €1-billion ($1.13 billion) funding for quantum computing projects. In 2018, US President Donald Trump signed a bill that promised investment of $1.2 billion in the area. Meanwhile, China has already committed over $2 billion over the years to fuel quantum research. Other countries such as Japan, Germany, and Canada have also announced various schemes to boost quantum computing programs. India is quite new to the field, with very few projects under works on the new technology. Last year, the Department of Science & Technology (DST), set up a research project named Quantum-Enabled Science & Technology (QuEST), with ₹80 crores ($11.2 million) funding in an institute in the southern city of Hyderabad and some of the IIT only. “Because last time got an advantage and taken by big players for their own profit”, hope this time, will get benefits small incubators or independent incubators also. While the country is just beginning its research, private companies such as IBM and Google are already fighting on quantum supremacy.
We are indeed most named on unknown competitor out of china to beat us in the race to machine because of china as a society just has the ability to steer enormous resources in the directions that are deemed strategically important. So, India has planned to create “a new economy” based on innovative that disrupt established the business model.”There’s a difference between commitment and delivery. Let’s see what’s delivered before we celebrate”.
Dr Kumar Gautam, Founder and CEO of QRACE
India got left behind in the industrial revolution, but has a unique opportunity in this data driven world where ‘Data’ is deemed as the new ‘OIL’. We have to become the ‘data refinery’ of the world and for doing that significant investments are required right from grassroots to the higher educational institutions. Steps like new national education policy, Atal innovation mission, startup India, Stand up India, Global initiative for academic framework, Digital India e-learning, R&D, Uchhatar Avishkar Yojana, Imprint, etc are showing the path. A holistic framework coupled with collaborations with the private sector is the key. Having more PPP frameworks in R&D , increasing CSR from corporate, I increasing FDI in the sector would be great. India’s dream of becoming a ‘digital economy’ could be summed up in a quote by Rabindra Nath Tagore “The highest education is that which does not merely give us information but makes our life in Harmony with all existence”.
Topics of interest include quantum Shannon theory and statistics, resource theories, quantum cryptography and other technical/mathematical aspects of quantum information.