India’s ambition to become a knowledge-driven economy has been bolstered by the launch of the Research and Development Infrastructure (RDI) Fund. This initiative, under Prime Minister Narendra Modi’s leadership, aims to strengthen the nation’s R&D capabilities and has been well-received by stakeholders.
However, financial investment alone is insufficient. India’s experience, especially in deep-tech sectors, reveals that without robust infrastructure—such as advanced laboratories, pilot plants, and regulatory testbeds—start-ups often rely on foreign facilities for prototyping and manufacturing. This reliance underscores the need for domestic capabilities to support innovation.
The disparity is more pronounced in Tier 2 and Tier 3 cities, where access to essential resources is limited. Sectors like quantum communication and biopharma require not just funding but also state-of-the-art facilities and coordinated support from academia, industry, and government.
India’s approach to innovation, characterized by frugality and collaboration, differs from models like the US’s venture capital-driven system. To succeed, India must develop a strategic, indigenous model that prioritizes building domestic infrastructure and capacities aligned with national priorities.
The RDI Fund should focus on creating public R&D infrastructure, such as biotech validation centres and semiconductor fabrication units. Success metrics should shift from the number of start-ups funded to tangible outcomes like market-ready products, patents, and job creation in core technology sectors.
India’s innovation potential is evident, but realizing it requires a concerted effort to build the necessary infrastructure and foster an ecosystem that supports sustainable growth.
India’s Innovation Drive: The Infrastructure Imperative
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