Context:
Recently, In Interim Budget Finance Minister announced the fund allocated for deep tech and research.
- Rs 1 lakh crore fund has been provided for long-term, low-cost or zero-interest loans for research and development.
Deep Tech:
- Advanced and disruptive technologies, many of which are still under development that has the potential to trigger transformative change, and provide solutions for the future.
- Used in – Cutting-edge research in nanotechnology, biotechnology, material sciences, quantum technologies, semiconductors, artificial intelligence, data sciences, robotics, 3D printing, etc.
- Addresses the complex global challenges like – Climate change, hunger, epidemics, energy access, mobility, physical and digital infrastructure, and cyber security.
National Deep Tech Startup Policy (NDTSP):
- Under Department for Promotion of Industry and Internal Trade
- Aim – To address specific challenges faced by technology startups, and to provide them with a platform to compete and collaborate with the best in the world.
- Objective – To allocate at least 2% of GDP for research and development
- Vision –
- Ensuring the Security of India’s Economic Future;
- Facilitating a Seamless Transition to a Knowledge-Driven Economy;
- Bolstering National Capability and Sovereignty via the Atma Nirbhar Bharat Imperative
- Fostering Ethical Innovation
- The idea is to create a deep tech startup ecosystem by offering the right incentives to companies that invest time and money in innovation and research.
- India currently spends just about 0.65% of its national GDP on research and development activities.
- Beneficiaries – Startups and other private sector ventures
Read more about: AI and Deepfakes
Source: Indian Express
Previous Year Question
Atal Innovation Mission is set up under the
[UPSC Civil Services Exam – 2019 Prelims]
(a) Department of Science and Technology
(b) Ministry of Labour and Employment
(c) NITI Aayog
(d) Ministry of Skill Development and Entrepreneurship
Answer: (c)
