India turning into world Deep Tech Hub as reforms reverse brain drain : Hardeep Singh Puri

The Rise of India’s Deep Tech Industry

The Indian government has been actively working towards creating a favorable business environment for the growth of the deep tech industry. The Petroleum Minister’s statement highlights the significant shift in India’s image from being a mere IT outsourcing hub to a center for innovation and technological advancements.

The Challenges Facing Indian Startups

Indian startups face numerous challenges that hinder their growth and success. Some of the key challenges include:

Lack of funding: Indian startups often struggle to secure funding due to the high cost of setting up a company in India. Onerous patents framework: The Indian patent system is complex and time-consuming, making it difficult for startups to protect their intellectual property. Crumbling infrastructure: India’s infrastructure, including roads, transportation, and communication networks, is in disrepair, making it difficult for startups to operate efficiently.

The Rise of Green Hydrogen in India

The Indian government has been actively promoting the adoption of green hydrogen as a clean and sustainable alternative to fossil fuels. The country aims to become a global leader in the production and use of green hydrogen, with a target of producing 5 million tons of green hydrogen by 2030. Key highlights of the Indian government’s green hydrogen strategy: + Setting up green hydrogen production facilities in various states + Providing incentives for private sector investment + Encouraging the use of green hydrogen in industries such as steel, cement, and chemicals + Developing a national grid to support the integration of green hydrogen into the energy mix

The Role of Public Sector Undertakings (PSUs)

Several Indian PSUs, including NTPC, Power Grid, and Indian Oil, have been actively involved in the development of green hydrogen technologies. These PSUs have showcased new electrolyser technologies in the Green Hydrogen segment, highlighting their commitment to the adoption of clean energy solutions. Examples of PSUs’ green hydrogen initiatives: + NTPC’s plans to set up a 100 MW green hydrogen production facility in Andhra Pradesh + Power Grid’s efforts to develop a green hydrogen-based transmission system + Indian Oil’s plans to use green hydrogen in its refining processes

The Future of Green Hydrogen in India

As the Indian government continues to promote the adoption of green hydrogen, the sector is expected to experience significant growth in the coming years.

The policy aims to build a robust ecosystem that can support the growth of deep tech startups.

The Vision Behind the Policy

The National Deep Tech Startup Policy is a comprehensive framework that aims to create a conducive environment for deep tech startups to thrive. The policy is designed to address the challenges faced by deep tech startups in India, such as limited access to funding, inadequate infrastructure, and lack of talent. The policy is a response to the growing demand for deep tech solutions in various sectors, including healthcare, finance, and defense.

Key Objectives of the Policy

Foster a culture of innovation: The policy aims to create a culture of innovation that encourages experimentation, risk-taking, and collaboration among startups, academia, and industry. Provide access to funding: The policy aims to provide access to funding for deep tech startups, including government funding, venture capital, and angel investors. Develop infrastructure: The policy aims to develop infrastructure that supports the growth of deep tech startups, including research and development facilities, testing and validation labs, and incubators and accelerators. * Attract and retain talent: The policy aims to attract and retain talent in the deep tech sector, including scientists, engineers, and researchers. ## The Roadmap for Implementation**

The Roadmap for Implementation

The National Deep Tech Startup Policy outlines a roadmap for implementation that includes several key steps:

Establish a deep tech startup ecosystem: The policy aims to establish a deep tech startup ecosystem that includes incubators, accelerators, research and development facilities, and testing and validation labs.

The Power of Individual Choices

India’s startup success is not solely the result of government policies or luck. Rather, it is the culmination of individual choices made by entrepreneurs, innovators, and policymakers over the years. These choices have created a snowball effect, leading to a thriving ecosystem that will continue to drive growth and innovation in the country.

The Role of Early Movers

Early movers, such as Infosys, played a crucial role in shaping India’s startup landscape. By taking the first step, they paved the way for others to follow.