India’s deep-tech sector, which includes robotics, semiconductors, AI and space, is gaining real momentum, and Silicon Valley is taking note.
Just this week, it was announced that Nvidia has joined a suite of big tech companies in supporting the India Deep Tech Alliance (IDTA). It joins an impressive list of investors, like Qualcomm Ventures, Accel, Celesta Capital, Blume Ventures, Gaja Capital and Premji Invest.
And since the alliance launched, investor confidence has clearly grown, as the initial commitments have grown from $1 billion to almost $1.9 billion.
But rather than just writing a big cheque, Nvidia has pledged to provide access to their AI experts, technical training for Indian workers and guidance around finding the best talent. It will also help startups scale fast using its tech.
Qualcomm on the other hand is bringing both capital and access to its global network.
India Investment Rises
When it comes to investment, interest in India is definitely on the rise. In fact, investment in Indian deep-tech up up 78% year on year.
The Indian government is also doing everything it can to drive up interest in the sector, including pledging a $12 billion research and development plan, designed to boost local tech capabilities and reduce reliance on imports.
But the investment isn’t just in research and development. In fact, big tech companies are investing heavily in infrastructure. From Google’s $15 billion AI campus to Microsoft’s $3 billion cloud data centres, it looks like India is getting serious about building, not just buying, tech in the AI era.
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Why India Is Suddenly The Place To Build
India’s popularity isn’t an accident, here’s what’s driving it according to Invest in India.
A big digital economy: Currently, India is the 4th largest economy worldwide and the 3rd largest digitised country. With over 900 million people using the internet there, it’s a huge online market to tap into.
Talent: India is now the most populated country in the world, with over 370 million young people making up nearly 30% of the population. With a big pool of STEM graduates and a growing young talent base, it’s perfect for powering big tech.
Supportive government: India’s government is showing real commitment to growing the county’s digital economy. With policies like IndiaAI, The PLI scheme and policies to stimulate innovation and spur economic growth, the government is working hard to solidify India’s standing as a global digital superpower.
India’s Rise
As countries race to become AI powerhouses, this move pushes India further towards the top. With a fast-growing digital economy, expected to be worth over $1 trillion by 2030, a growing population and a more stable political leadership than other countries, India is putting itself on the map as a major player in the AI infrastructure race.
For investors, fuelling this growth is a smart idea. Growth in India diversifies tech away from countries like the US and China, who can be unpredictable and hard to rely on.
For India, investor confidence allows them to cement themselves in the global AI race, not just buying into it, but actually fuelling its growth. Can it land itself on top? We wait and see…
