India becomes world’s ‘deep tech hub,’ says Petroleum Minister
NEW DELHI, INDIA — India has evolved from being an IT outsourcing center to a global deep tech hub, thanks to transformative government reforms, according to Petroleum Minister Hardeep Singh Puri.
Speaking on Sunday, Puri credited Indian Prime Minister Narendra Modi’s leadership for fostering an ecosystem where deep and frontier technology startups are thriving.
“As a result of the dedicated focus of PM Modi making India a hub for innovation, even the most cutting-edge, deep tech and frontier tech startups, led by Indian students with PhDs from major global universities, are now taking root in India,” Puri said in a post on X.
For past many decades, while Indian engineers & scientists were recognized for their talent and dedication in global technology companies and universities, they couldn’t dare to incubate their tech startups in India, owing to our onerous patents framework, lack of funding,… pic.twitter.com/NIXOwt9zF1
— Hardeep Singh Puri (@HardeepSPuri) November 24, 2024
Reversing brain drain: A new era for Indian talent
Puri highlighted a shift in mindset among Indian professionals. Once satisfied with working for multinational corporations (MNCs), Indians are now creating their own global companies. This transformation stems from reforms that addressed challenges such as restrictive patent frameworks, inadequate funding, and poor infrastructure.
“For decades, Indian engineers and scientists were recognized globally but couldn’t dare to incubate their startups in India. Today, that has changed,” Puri remarked.
The reversal of brain drain is evident as talented Indians increasingly choose to stay or return to build innovative ventures domestically.
Technological advancements across sectors
The minister emphasized that India’s technological growth extends beyond startups. In the energy sector, initiatives like India Energy Week have showcased innovations in green hydrogen production, carbon capture technologies, and next-generation battery solutions.
Public sector undertakings (PSUs) and startups are driving advancements in membrane-less electrolysers for green hydrogen and solid-state batteries.
Deep tech policy boosts innovation in key sectors
Puri also spotlighted the recently introduced National Deep Tech Startup Policy, designed to accelerate breakthroughs in critical areas such as semiconductors, artificial intelligence (AI), and space technology. He noted that AI has become nearly ubiquitous in India’s software services sector.
India now boasts the world’s third-largest startup ecosystem. “We need to further nurture Indian talent in deep tech domains to hasten the reversal of brain drain,” Puri said. He called this shift a “significant victory” for India’s future generations.
India’s vision for a developed future
Looking ahead, Puri expressed optimism about India’s journey toward becoming a developed nation. He emphasized that the cumulative impact of these reforms will be fully realized by future generations, who will inherit a culture of relentless innovation and entrepreneurship.
India’s emergence as a global deep tech hub represents a transformative milestone in its economic and technological evolution—a testament to the success of targeted reforms and forward-looking leadership.
