HomeNewsBudget 2020: India promises Rs 8,000 crore investment in 'Quantum Computing'

Budget 2020: India promises Rs 8,000 crore investment in ‘Quantum Computing’

Quantum technology is paving up new ways in the fields of computing, communications and cyber security.

As quantum technologies have a huge disruptive potential and is rapidly developing across the globe, the Modi government while presenting Union Budget 2020 has announced a National Mission on Quantum Technologies & Applications (NM-QTA) with a proposed budget of Rs 8,000 Crore for a period of five years. The move will implemented by the Department of Science & Technology (DST).

In the Union Budget 2020 speech, Finance Minister Nirmala Sitharaman said: “The new economy is based on innovations that disrupt established business models. Artificial intelligence, Internet-of-Things (IoT), 3D printing, drones, DNA data storage, quantum computing, etc., are re-writing the world economic order.”

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Asserting that quantum technology is paving up new ways in the fields of computing, communications and cyber security, it is likely that the next generation transformative technologies will receive a push under NM-QTA mission. For instance: Quantum computers and computing, quantum communication, quantum key distribution, encryption, crypt analysis, quantum devices, quantum sensing, quantum materials, quantum clock, etc.

The areas of focus for the National Mission on Quantum Technologies & Applications will be in fundamental science, translation, technology development, human and infrastructural resource generation, innovation and start-ups to address issues concerning national priorities.

With the belief that the range of quantum technologies is likely to change the paradigm of computation, communication and encryption, the countries who achieve an edge in this emerging field are expected to have a multi-fold economic growth.

In order to secure communications, financial transactions, remain competitive, drive societal progress, generate employment as well as to foster economic growth, it is imperative for the government and industries to be prepared to develop these emerging and disruptive technologies.

Once the NM-QTA mission gets implemented, it will further help prepare next generation skilled manpower, boost translational research and also encourage entrepreneurship and start-up ecosystem development. This will further stimulate economic growth and create more jobs, which will feed back into a growing quantum-based economy.

Indian physicists and engineers are working hard to delve deep into the quantum world that holds the secrets for developing exciting technologies for computing, communication, cryptography and many more. While announcing the budget, the government announced that its financial and organizational support will also ensure that both public and private sectors receive the benefit.

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