Over 8 in 10 Indian industry leaders seek big investments in quantum computing

Mumbai: More than 8 in 10 (85 per cent) Indian industry leaders have called for major investments in quantum computing, as the country pushes for building new capabilities under the National Quantum Mission, a report said on Monday.

As 75 per cent of respondents view quantum as a game-changer for India’s future, the sectors expected to benefit most include artificial intelligence and machine learning (79.4 per cent), cybersecurity and cryptography (68.1 per cent) and healthcare and drug discovery (61 per cent), according to the report by Primus Partners.

“Quantum technology holds the potential to solve some of the most complex problems in materials science, drug discovery, financial modelling, and cryptography,” said Devroop Dhar, Co-founder and Managing Director of Primus Partners.

This technology will significantly enhance national security, drive economic growth, and create millions of jobs, he added.

As quantum computing rapidly advances from research to real-world applications, India is positioned to play a pivotal role in shaping the technology’s future.

India launched the National Quantum Mission in April 2023 to build capabilities in quantum-related science and technology. Today, there are more than 600 scientists and over 50 startups working in quantum technology in the country.

According to the report, investing in research and development (R&D) emerges as a top priority for Indian industry leaders, with 74.5 per cent of respondents emphasising the urgent need for increased investment to drive quantum innovation and ensure that India remains competitive in the global quantum race.

In addition to R&D, developing a skilled workforce is seen as vital for the country’s quantum future.

About 61.7 per cent of respondents highlighted the importance of building a highly-skilled talent pool capable of driving the next generation of quantum breakthroughs.

Industry leaders also view quantum as a powerful tool for addressing significant societal challenges.

Nearly 63.1 per cent believe quantum computing has the potential to enhance financial systems, making them more efficient, transparent, and secure, the report mentioned.

Among the barriers to its widespread adoption is the high cost of R&D, shortage of skilled talent and collaboration across sectors.

–IANS