Quantum technology can add $310 billion to Indian economy by 2030

India is poised to play a pivotal role in the quantum technology revolution. The government is empowering the scientific community to advance quantum science. India’s leaders are planning to disperse billions of dollars into the quantum ecosystem for technology commercialization and human resource development. The NASSCOM-Avasant “The Quantum Revolution in India: Betting Big on Quantum Supremacy” showcases the current state of the market with respect to quantum technology and resource development, the collaboration ecosystem, and investment scenarios, along with specific opportunities for India to take the lead. Furthermore, it also identifies needed areas of improvement in the existing quantum ecosystem and provide recommendations to relevant stakeholders.

Key findings

India gears up to make a giant leap in quantum infrastructure in the next five years
The government emerges as the key sponsor of quantum initiatives in India. Of the ~100 projects initiated in quantum in India, about 92% are government sponsored. Over Rs. 8,000 crore (USD 1B) outlay is planned over the next five years to advance progress in quantum information and meteorology, quantum applications and materials, and quantum communications.

Big plans for quantum tech development, with significant progress in communications
Current focus on translating QKD into field deployable products and communication through satellites and fibres. India plans to develop a quantum computer with about 50 qubits by 2026. Development of smaller scale devices such as quantum simulators and sensors is expected much sooner.

Quantum tech potential USD 310B cumulative value add to the Indian economy by 2030
Quantum technology is expected to reach critical maturity by 2026-2027, leading to an increase in enterprise adoption. The manufacturing, high tech, banking, and defence sectors will likely lead the charge of adopting quantum technologies for critical and large-scale use cases. India has the potential to become an attractive destination for quantum R&D, software development, and components and equipment manufacturing.

Building and retaining a specialized workforce is critical to India’s quantum promise
Programs under NMQTA have a 5-7 goal of developing about 25,000 human resources across software, hardware, and allied tech. Retaining specialists to serve Indian research groups will remain a key challenge. Active involvement from the industry and the capital to push the quantum start-up ecosystem in India is required to boost the industry. Nasscom