INTRODUCTION
Emerging technologies are expected to generate $1 trillion in economic value for India, spearheading the $5-trillion-economy ambition by contributing 20% to the country’s nominal GDP and sustaining 60-65 million jobs by 2025. Information technologies such as Al, Blockchain, AR/VR/XR, etc.. communication technologies such as 5G, loTs and new manufacturing technologies such as 3D, Additive etc., have a major role in digital transformation of economic verticals.
Technologies that are likely to transform India’s lifestyle, business and employment landscape are Energy. Agriculture/Food, Climate, Healthcare, Information and Communication Technologies. Scientific Ministries like, MEITY, DOT, DRDO, DST, DBT, DHR, DARE, etc., have undertaken several initiatives to enable the development of technologies and facilitate harnessing the transformative power of emerging technologies to augment efficiency in public service delivery and data-driven decision-making.
Tech Solutions for Future Security
Hon’ble Prime Minister while strongly pitching for technology transformation on 15th Aug 2022 said: “…..But in this new phase Amritkal now it is imperative to add jai Anusandhaan that is “hail innovation”. Jai Jawan, Jai Kisan, Jai Vigyan, Jai Anusandhaan”. Hon’ble Prime Minister has hailed technology as the vehicle in his speech at the Digital India week in July 2022 ” This decade is going to greatly enhance India’s capabilities in digital technology and its share in the global digital economy. That’s why top experts are looking at this decade as India’s Techade.”
A.Emerging Information Technologies
Emerging technologies have played a key role in fuelling the growth of the Indian economy. The use of cloud computing, and artificial intelligence has helped businesses in India to become more efficient and productive. Emerging technologies, including Al, have the potential to add up to an entire percentage point to the annual economic growth rate of the country. Indeed, Al alone is expected to raise India’s annual growth rate by 13 percentage points by 2035-in a scenario of intelligent machines and humans working together to solve the country’s most difficult problems. As India is presiding over the G20 grouping in 2023, one of the critical agenda items that India has set is emerging technologies. India’s digital economy could contribute 18-23% to the overall economic activity by 2025, with more than half of it through scaling up new and emerging digital ecosystems.
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Artificial Intelligence:
Artificial Intelligence (AI) is expected to change the way we work and live. The Government of India has also envisioned to support research and development and adoption of such technologies. These include stimulating economic growth, enhancing global health and well-being, improving cyber security and improving efficiencies in imparting education. Al has the capacity to add US$957 billion, or 15% of India’s current gross value in 2035. Use of Al and Machine Learning has transformed Governance and business across the world. India has won the responsibility of Incoming Council Chair of the Global Partnership on Artificial Intelligence (GPAI) in November 2022. India will serve as the Incoming Chair in 2022. then subsequently Lead Chair in 2023, and Outgoing Chair in 2025. We are in a leading position to influence Global businesses and Governments.
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Additive Manufacturing (AM):
Additive Manufacturing (AM) has immense potential to revolutionize India’s manufacturing and industrial production landscape through digital processes, communication, imaging. architecture and engineering. To cater next- generation digital manufacturing and mitigate immediate disabilities of local industries, The Government of India focuses to capture 5% of the global market share in additive manufacturing or 3D printing with expectations to add nearly USD 2-3 billion to the GDP in the next 2-3 years,
To develop a comprehensive additive manufacturing ecosystem in the country and position India as a global AM hub, the National Strategy on Additive Manufacturing was released by Meity in February 2022.
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Blockchain
: Blockchain technology has the potential to revolutionize interactions between governments, businesses and citizens in a manner that was immeasurable just a decade ago. Blockchain has the potential to revamp currently existing processes to unlock new sources of efficiency and value, including security. It is estimated that government-related blockchain projects could add $5.1 billion to India’s GDP in 2032. The National Strategy on Blockchain lays out the overall vision and the strategies for development and implementation of a national blockchain platform covering the technology stack, legal and regulatory framework, standards development. collaboration, human resource development and potential use cases.
B. Emerging Communication Technologies
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5G Technology:
Taking India’s digital transformation and connectivity to new heights, the SG services in India was launched in October 2022. SG Connectivity with its extreme capabilities is envisaged to enable new business opportunities and services across socioeconomic verticals. This will unlock huge possibilities for India with high-tech technology and pave the way to bring transformation in crucial areas including agriculture, education, health, Transport, smart cities, logistics, Industry 4.0 and financial inclusion etc. As per the report by NASSCOM, 5G networks are expected to power up to 2% of India’s GDP, amounting to $180 billion by 2030 on the back of increasing market penetration, a strengthening economy, and sectoral reforms.
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Low Earth Orbit / Medium Earth Orbit (LEO/MEO) Satellite based Broadband:
Satcom can provide inclusive connectivity to propel education, healthcare, ATM, online banking etc for in the most difficult to reach areas. Leveraging this media, the benefits of Digitisation can reach to the far-flung, sparsely populated areas in hilly, island States/UTs including NER and they are able to avail various Government services which their peers in city use. Recently, a VSAT operator by utilising the indigenous High Throughput Satellites has commenced broadband VSAT services in the North-East, J&K and other areas. Fishermen, people living in remote and hilly areas, cross country truck operators and railways, service providers in logistics, power. water sectors needing data acquisition from such remote locations can use Satellite NB-IOT technologies for safety, communications, effective management of assets etc.
C. Drone Technologies
Drones offer tremendous benefits to almost all sectors of the economy, including – agriculture, medical supplies, disaster relief, geo-spatial mapping, surveillance, project monitoring, defence and law enforcement to name a few. Drones can be remarkable creators of employment and economic growth due to their versatility, reach and ease of use, especially in India’s inaccessible and remote areas. Given its traditional strengths in information technology. Innovation, frugal engineering and its huge domestic demand, India has the capability of becoming a global drone hub by 2030.
Indian drone industry is expected to reach Rs. 15000 crores by 2026, Currently, the use of drones is limited to mostly the infrastructure and agriculture sectors. The drone services industry (logistics, operations, traffic management, data processing etc.) is far bigger in scale. It is expected to grow to over INR 30,000 crore in next three years. The drone services industry is expected to generate over five lakh jobs in three years.
Increasing number of drone applications coupled with release of government regulations a growing number of start-ups who are engaged in identifying new applications for drones are among the primary reasons why the drone industry is expected to continue to grow. Drone technology is also going to play an important role in making the life of the farmer in the village more convenient and prosperous. Drones can revolutionise transportation of goods in difficult terrains, especially during disasters.
D. Green Hydrogen Technologies
There is a need to transform India into an energy independent nation by 2047 where green hydrogen will play an active role as an alternate fuel to petroleum/ fossil-based products. Government of India has launched the Hydrogen mission and released a Green Hydrogen Policy to aid India meet its climate targets and making India a green hydrogen hub. Hydrogen can replace fossil fuels by powering vehicles, industry, power generation, etc.
JIMS Kalkaji runs PGDM Program which caters to the industry needs. Emerging Trends in Information Technology (ETIT) is a course dedicated to the applications of Emerging Technologies in business areas taught in JIMS Kalkaji PGDM final year.
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