The budget paved a path for DPI to propel deep-tech innovation
₹1 trillion research-and-innovation corpus for deep technology announced in the interim budget likely to fuel ambitions across the country. In the early stages of DPI deployment, the basic purpose was to reduce leakages in government welfare delivery.
However, it also paved the way for hundreds of fintech firms, new-age stock broking enterprises and digital lenders by reducing the cost of customer acquisition and pushing global tech companies to create products and services built on DPI. The open architecture of DPI has served as a growth propellent for our startup ecosystem.
The advancement of DPI in different domains and state innovation funding are intertwined, each complementing and catalysing the other in India’s quest for tech leadership. This symbiotic relationship is fundamental to democratizing people’s access to cutting-edge technologies, fostering frugal innovation and empowering startups to join the deep-tech race underway.
This relationship would shape two policy outcomes: first, it will increase India’s R&D expenditure, currently at 0.7% of its GDP, and direct significant investment towards deep tech development, an area that needs a lot more private investment and holds immense transformative potential; and second, widen the scope and scale of DPI in critical and emerging tech fields to help deep-tech startups, other enterprises and research institutions compete with global players. To seize this opportunity, the draft National Deep Tech Startup Policy (NDTSP) 2023 outlines a comprehensive vision.
In conjunction with the capital allocation and policy objectives outlined in the draft, India must harness strategic technology partnerships with reliable allies. Also, deploying DPI is essential, as it can
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