Union Minister Dr. Jitendra Singh addressed the 121st Annual Session of the PHD Chamber of Commerce and Industry, emphasizing the critical need for stronger industry participation to accelerate the commercialization of Indian innovation and achieve strategic sovereignty by 2047. The Minister called for enhanced collaboration between government, industry, academia, research institutions, and start-ups to convert scientific capabilities into indigenous technologies and globally competitive solutions.
Significant progress was reported in strategic technology areas, with India achieving 1,000 km of quantum-secure communication against an eight-year target of 2,000 km, highlighting the strategic and security importance of domestic quantum capabilities. In biotechnology, India's bioeconomy has grown from approximately $10 billion in 2014 to $196 billion, with an ambitious target of reaching $300 billion by 2030, supported by a expanding biotechnology start-up ecosystem.
The Minister stressed that industry engagement should begin at the inception of research projects to ensure market relevance and clear commercial deployment pathways. He referenced the Government's Research, Development and Innovation (RDI) initiative, emphasizing that greater private-sector participation in R&D is essential to accelerate the translation of scientific discoveries into commercial applications. The expansion of India's space ecosystem following policy reforms was cited as evidence of successful public-private synergy.
Dr. Singh highlighted the importance of indigenous technologies and reliable energy supplies for advancements in artificial intelligence, data infrastructure, and advanced manufacturing. He concluded that India's next technological leap depends on combining new thinking with faster execution and scaling successful innovations through stronger partnerships among all stakeholders.