Traditionally, India's tech landscape was dominated by IT services and business process outsourcing. In the last decade, there has been a tectonic shift. With the rise of the startup culture, driven by incubators, accelerators, and a supportive government ecosystem, India has transitioned from being a service-oriented tech hub to a hotspot for innovation.
Five years ago when I was posted as CEO of NITI Aayog, we had already drafted the national strategy for artificial intelligence, recognising that AI and deep tech are the next big disruption the world was going to witness.
India is already home to more than 3,000 deep tech startups, witnessing a growth rate of over 53 per cent annually in the past 10 years. These startups represent 12 per cent of the Indian startup ecosystem, with a third focusing on enterprise technology and the banking, financial services, and insurance (BFSI) sector.
This story is from the November 12, 2023 edition of THE WEEK India.
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This story is from the November 12, 2023 edition of THE WEEK India.
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