Key facts
- Neelkanth Mishra calls for urgent deep tech investment by India
- Flags risk of missing high-income economy window without tech pivot
- Highlights gaps in semiconductors, biotech, advanced software platforms
- Distinguishes startup ecosystem from true innovation ecosystem
Moneycontrol reports that Neelkanth Mishra, prominent economist and member of NITI Aayog, has issued a pointed call for India to invest seriously in deep technology capabilities and build products competitive on the global stage. Speaking at an industry forum, Mishra argued that India's current economic model — heavily reliant on IT services exports and low-value manufacturing — is insufficient to power the country into high-income status.
Mishra specifically highlighted the need for India to develop indigenous strength in areas such as semiconductors, advanced materials, biotechnology, and next-generation software platforms — sectors where deep, patient capital investment and strong research institutions are prerequisites. He warned that the window for India to establish itself in these domains is narrowing as other nations, including China and several Southeast Asian economies, race ahead.
His remarks align with a growing chorus from Indian industry and academia that the country's celebrated startup ecosystem, while impressive, has largely produced consumer internet and fintech businesses rather than frontier technology. The distinction between a startup ecosystem and a true innovation ecosystem — one that creates IP-intensive, globally competitive products — is increasingly central to India's policy debates.
For Indian citizens, the stakes are straightforward: deep tech industries generate higher-wage jobs, reduce import dependency in critical sectors, and build the kind of strategic economic resilience that services-led growth alone cannot provide.