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Information Technology
In recent years, the question of whether India can keep pace with China in the realm of deep tech has gained significant traction. This debate was catapulted into the spotlight when Union Commerce Minister Piyush Goyal posed a critical question: whether India’s startup ecosystem is satisfied with being merely "delivery boys and girls" amidst a global rush towards cutting-edge innovation[1][5]. Zoho's Sridhar Vembu, a notable figure in India's tech scene, has since weighed in on the matter, sparking a widespread discussion on social media. This article delves into the current state of deep tech innovation in India and China, highlighting key challenges, opportunities, and initiatives that could shape the future of their tech industries.
Deep tech refers to technologies rooted in scientific and technological advancements, ranging from artificial intelligence (AI) and robotics to semiconductor manufacturing and electric vehicles (EVs). These technologies are foundational to driving sustainable industrial growth and creating long-term competitive advantages[3][5].
India's Deep Tech Landscape: Despite having over 3,600 deep tech startups, India ranks behind the U.S. and China in terms of funding and scalability[4]. Indian startups have excelled in areas like Software-as-a-Service (SaaS), with companies like Zoho and Freshworks achieving global recognition. However, sectors such as AI, semiconductors, and EVs remain underdeveloped[1][3]. In 2023, only 5% of startup funding in India went into deep-tech sectors[1]. Key players in India's deep tech space include Skyroot Aerospace in private space launches and Mindgrove in semiconductors[3].
China's Deep Tech Dominance: China has aggressively invested in deep-tech industries. It leads globally in critical technologies such as AI, robotics, and EVs[2][3]. Companies like BYD, NIO, and CATL are at the forefront of EV and battery technology, while startups like Horizon Robotics are developing AI chips for self-driving vehicles[2]. China’s vast R&D spending—$496 billion in 2024 alone—dwarfs India's allocation of $23.45 billion[2]. This strategic investment has positioned China as a global leader in AI-driven manufacturing and space technology[3].
One of the significant challenges India faces in deep tech is funding. Unlike China and the U.S., India’s deep tech startups struggle to attract substantial investments, which are necessary for long-term R&D projects. Former Infosys CFO, Mohandas Pai, noted that while India received around $160 billion in startup investments between 2014 and 2024, China received $845 billion and the U.S. $2.3 trillion during the same period[4]. Moreover, India lacks a robust pipeline of highly skilled researchers, with only 900,000 R&D workers in 2022, compared to China's 2.2 million[1][2].
Talent Acquisition and Retention is another hurdle. India's talent pool in frontier technologies remains limited. Building a strong workforce in deep tech requires not only attracting skilled engineers but also retaining them through opportunities for long-term career growth and innovation[5].
Despite these challenges, India is not entirely out of the race. The government and private sector are initiating moves to bolster India’s deep tech ecosystem:
Government Policies and Investments:
The India Semiconductor Mission has been launched to develop domestic semiconductor capabilities[3].
The IndiaAI Mission aims to establish a comprehensive AI ecosystem[3].
The National Deep Tech Startup Policy focuses on creating a supportive environment for deep-tech innovation[5].
Private Sector Efforts:
Companies are increasingly investing in AI, robotics, and space technology, leveraging innovative funding models to bridge the capital gap[3].
Collaborations between academia and industry are being strengthened to foster research in core technologies[5].
Sridhar Vembu’s comments highlight the need for a shift in focus towards deep tech, emphasizing that while success in consumer-facing apps is valuable, it is not sufficient to secure a leadership position in the global tech landscape. Vembu underscores the importance of building foundational technologies, which require patience and long-term investment. His views resonate with many in the industry who believe that India’s potential in deep tech remains untapped.
The race between India and China in deep tech innovation is complex and multifaceted. While China has surged ahead with significant investments in R&D and talent acquisition, India has opportunities to catch up by leveraging its demographic advantages and strengthening its policy framework to support deep-tech startups. The success of India’s tech ecosystem will depend on its ability to innovate in foundational technologies, creating a sustainable base for long-term growth and global leadership. As Zoho’s Sridhar Vembu and other leaders emphasize, this requires a relentless focus on building a robust talent pipeline and securing significant investments in R&D. The journey ahead is challenging, but with strategic initiatives and visionary leadership, India can bridge the gap and become a major player in the deep tech arena.
The time is ripe for India to make a strategic shift towards deep tech innovation, building on its existing strengths while addressing systemic challenges to emerge as a leading tech nation.
