Mumbai, 11 November 2024 – 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. A recent survey by Primus Partners – India’s leading consultancy, reveals that industry leaders across India are pushing for significant investments in quantum research and talent development to unlock the potential of this transformative technology. The survey, conducted with 200 senior executives and CXOs, highlights the critical actions needed to propel India’s leadership in quantum computing, which is expected to revolutionise sectors like cybersecurity, healthcare, and logistics.
Quantum’s game-changing impact across sectors
Industry leaders are confident about quantum computing’s potential to reshape industries. Nearly 75% 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%), Cybersecurity and Cryptography (68.1%), and Healthcare and Drug Discovery (61%).
These findings highlight the critical importance of quantum computing for India’s technological advancement. AI and machine learning, for instance, stand to experience significant acceleration, with quantum algorithms potentially unlocking new levels of computational power and efficiency. Similarly, in cybersecurity and cryptography, quantum’s ability to process vast amounts of data can drastically improve encryption methods, safeguarding India’s digital infrastructure. In healthcare, quantum could revolutionise drug discovery, making it faster and more precise, ultimately improving public health outcomes.
Key actions to unlock Quantum’s full potential
To capitalise on quantum computing’s transformative promise, industry leaders are united on the critical steps India must take. Investing in research and development (R&D) emerges as a top priority, with 74.5% 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. 61.7% of respondents highlight the importance of building a highly skilled talent pool capable of driving the next generation of quantum breakthroughs. Without the necessary talent, India risks falling behind in this rapidly evolving field.
Beyond R&D and talent development, industry leaders also view quantum as a powerful tool for addressing significant societal challenges. 63.1% believe quantum computing has the potential to enhance financial systems, making them more efficient, transparent, and secure. Similarly, 61.7% see quantum’s ability to advance healthcare access, particularly in underserved regions, as a key area where the technology could make a profound impact, improving India’s social infrastructure and public health systems.
Challenges to overcome: R&D Costs, Talent Gaps, and Collaboration Needs
While the potential of quantum computing is widely acknowledged, the survey also highlights significant barriers to its widespread adoption. 70.9% of respondents point to the high cost of R&D as one of the major obstacles preventing faster advancements in quantum technology. Additionally, 62.4% of respondents note that the shortage of skilled talent is another critical barrier that must be addressed in order to unlock the full potential of quantum innovation. In addition to these challenges, 45.4% of leaders emphasise the importance of collaboration across sectors. They stress the need for closer cooperation between governments, the private sector, and international organisations to overcome both the financial and talent-related barriers to quantum growth. This collaborative approach will be key to driving breakthroughs and ensuring India remains at the forefront of the global quantum race.
Devroop Dhar, Co-founder and Managing Director of Primus Partners stated, “Quantum technology holds the potential to solve some of the most complex problems in materials science, drug discovery, financial modeling, and cryptography. This technology will significantly enhance national security, drive economic growth, and create millions of jobs. Our survey clearly indicates that industry leaders recognise the urgent need for strategic investments and skill development in this field.”
With global competition accelerating, India must act quickly. 32.6% of respondents believe practical quantum applications will be realised within 3-5 years, while 27.7% estimate it will take over five years before quantum computing becomes widely deployed. This timeline underscores the urgency for India to make the necessary investments in R&D, build the required talent pool, and forge global partnerships.
