Advantage India
Robust
Demand
* As per the Economic Survey 2022, India’s GERD as a percentage of GDP stood at 0.66%.
* There are 1,30,000 startups (besides unicorns) in December 2023 from 350 startups in 2014.
* As of September 2023, India was placed at 40th position among the top innovative economies globally as per Global Innovation Index (GII) 2023.
* The rate of Artificial Intelligence (AI) adoption in key industries across India reached approximately 48% in FY2024, with expectations to expand by an additional 5-7% in FY25.
Attractive
Opportunities
* India is the top exporter of IT products, has the third-largest pharma sector and a fast-growing contract research segment.
* State University Research Excellence (SERB-SURE) to create a robust R&D ecosystem in state universities and colleges; Fund for Industrial Research Engagement (SERB-FIRE) to support research and development to solve critical problems that are relevant to industries in a public-private partnership mode.
* India’s AI market is growing at a CAGR of 25-35% and is projected to reach around US$ 17 billion by 2027.
* India is poised to establish itself as a global hub for drone technology, a development that is anticipated to significantly enhance the Indian economy. This initiative aligns with the government's Make in India and Atmanirbhar Bharat programs, as emphasized by Union Minister of Defence, Mr. Rajnath Singh.
Policy
Support
* In September 2021, India published the amended Patents Rules (2021) and reduced fees by 80% for educational institutions.
* DST has been a pioneer in establishing a network of Technology Business Incubators (TBI) and Science & Technology Entrepreneur’s Parks (STEP) across the country under the National Initiative for Developing and Harnessing Innovations (NIDHI) program.
* Union Minister Mr. Jitendra Singh announced that India will establish a National Research Foundation (Anusadhan NRF) to transform research and development. Once operational, it will bridge public and private sectors, fostering collaboration between industry and academia.
Rising
Private Activity
* Establishment of CoEs in various areas. NMITLI initiative on PPP basis.
* Increased investment by private players. Setting up R&D centres.
* India has witnessed an investment of over Rs. 1,000 crore (US$ 120.21 million) in Space Startups in the last nine months between April to December 2023.
Tata Consultancy Services (TCS)
Tata Consultancy Services (TCS) is an IT services, consulting and business solutions organisation that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led integrated portfolio of IT, BPO, infrastructure, engineering, and assurance services. This is delivered through its unique Global Network Delivery Model (GNDM) recognized as the benchmark of excellence in software development. TCS, a part of the Tata Group, India's largest industrial conglomerate, has 603,000+ associates (including subsidiaries), representing 153 nationalities, across 46 countries. The company is India's first listed IT company to reach the US$ 100 billion market capitalisation mark.
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Biocon Ltd
Biocon is Asia's premier biopharmaceutical company that is driven by the vision to make a difference in global healthcare through improved access to high-quality, life-saving biotherapeutics by making them affordable for patients across the world. Biocon is among the few companies globally to have received approvals for its biosimilars from developed countries like the U.S., EU, Australia, and Japan. Its credibility as a serious player in the biosimilar sector was first established with the Japanese approval for Insulin Glargine. The credibility was enhanced when Biocon, along with partner Mylan, became the first global company to get biosimilar Trastuzumab and Pegfilgrastim approved in the US in 2017 and 2018, respectively. It was also among the first few to receive Insulin Glargine approval in Europe and Australia for Insulin Glargine, both in partnership with Mylan. It also established its presence in key emerging markets through safe, effective, and high-quality biosimilars including recombinant human insulin.
Read MoreHindustan Aeronautics Limited
Hindustan Aircraft Limited was incorporated on December 23, 1940, in Bangalore by Mr. Walchand Hirachand, a farsighted visionary in association with the government of Mysore to manufacture aircraft in India. In March 1941, the government of India became one of the shareholders in the company, holding one-third of its paid-up capital and subsequently taking over its management in 1942. The company had built aircraft and engines of foreign design under licence, such as Prentice, Vampire and Gnat aircraft. It also undertook the design and development of aircraft indigenously. Over 150 trainers were manufactured and supplied to the Indian Air Force and other customers. Two companies i.e. Hindustan Aircraft Limited and Aeronautics India Limited were merged on October 1, 1964, by an Amalgamation order issued by the Government of India and the company formed was named "Hindustan Aeronautics Limited (HAL)". The principal business of the company was to design, develop, manufacture, repair and overhaul aircraft, helicopters, engines and related systems like avionics, instruments, and accessories.
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