Future of Technology in India (2023 Report)
Technology plays a key role in society. The Indian IT industry is booming. Many Indian startups contribute to future technology trends such as Artificial Intelligence (AI), Blockchain, Quantum Computing, and the Internet of Things (IoT).
The IT industry is a major contributor to the Indian economy. India’s booming IT industry makes her a global leader. India accounts for more than half of the US sourcing business.
This article discusses the key technologies that India can contribute to its future development, and how you can benefit from them.
IT Technology in India: The Past
India was known to fall short in all areas, especially economic growth. In the last decade, India made massive improvements in Information Technology (IT) to the point that the Indian software industry gained global attention.
The growth started in the 1970s when it became a destination for software-sourcing businesses. This boom created massive job opportunities for the infant Indian IT industry. The IT revolution was sudden and unknown to many.
The 1980s and 1990s
In the 1980s, India entered the “prepackaged software” industry. There were not enough trained engineers to build custom software.
The 1990s saw the introduction of software services made in India. There was the creation of some infant IT industries, the birth of international companies of Indian origin, and the establishment of various development centers in India.
2000 – Present
The Indian IT industry became a powerful influence since this period. There was impressive growth in technological innovations and business strategies.
India rose to the front line of technological innovation, contributing to advancements in digital technology and Artificial Intelligence (AI).
Future of Technology in India: The Next 20 Years
Due to the availability of talented human resources, India's rich IT industry has become an attractive destination for IT firms.
Many of the top IT companies in the world are run by CEOs of Indian origin.
- Sundar Pichai – Alphabet
- Satya Nadella – Microsoft
- Shantanu Narayen – Adobe Inc
- Arvind Krishna – IBM
- Sanjay Mehrotra – Sandisk
Indian IT companies are focusing on emerging technologies to remain relevant for the next two decades in this competitive world. There are several technological niches in which India will play a significant role in the future.
1. Internet of Things (IoT)
The Internet of Things (IoT) is a field where India can play a key role in the next 20 years. IoT is the internet connection of physical devices with sensors that collect and share data with other devices.
IoT helps in improving how you use and maintain assets. This emerging technology improves healthcare services, security, and safety. You can use smart devices to spread information and communicate efficiently.
Indian IoT companies like Tech Mahindra and Algo Engines are creating IoT technologies that make virtual monitoring easy and improve data analysis and network security.
The Indian government is supporting IoT initiatives with its commitment to building 100 smart cities run on IoT devices by 2024.
2. Artificial intelligence (AI)
Artificial Intelligence enhances business in all areas. Indian IT companies create AI tools that help businesses improve their productivity.
Indian AI-driven technology can improve many traditional systems and push the technological revolution forward.
You can trace India’s AI history back 60 years with its first AI program by Professor H.N. Mahabala of the Indian Institute of Technology (IIT).
Major advancements in the Indian AI industry happened in the last decade, such as 3Nethra for detecting common eye problems, Chatbots, AI-powered sowing apps, and EdTech platforms.
The NITI Aayog, India’s national policy group, is partnering with local companies to develop AI solutions in e-Commerce, agriculture, health, finance, infrastructure, and education sectors.
Leading Indian AI companies contributing to the industry include:
- Maruti Techlabs
- Sigma Data Systems
- Tata Elxsi
- Happiest Minds
- Kellton Tech
India will play a key role in developing AI-driven systems such as enhanced teaching and learning processes, self-driving cars, smart assistants, and automated financial investing.
Many Indians are making waves in robotics. Indian robotic companies, such as ThirdEye Data and Trigma, compete with innovations from other countries.
In medicine, robotics carry out operations like transplantation and dialysis. There are hybrid robots that collect stem cells from the embryos of organisms. You can command bots to areas where they are needed in the body.
Indian robotic companies are designing robots for military operations. These robots can work together with human soldiers to detect enemy territories and weapons engagement.
AI robots handle medical procedures and defense operations. Robotics will increase success rates for future surgeries, reducing mortality. Human deaths on the battlefield will reduce with increased robot use in wars.
India aims to be the global drone hub by 2030. IT job opportunities will increase with drones in logistics, transportation, mining, defense, and infrastructure.
The Indian government has promised to give up to INR 120 Crores incentives for the production of drones and their components within three years.
Drones generate innovations, strengthening India in technology and engineering. India’s new drones will benefit many sectors in the future, including agriculture, survey, defense, and aviation.
Leading Indian drone manufacturing companies include:
- Thanos Technologies
- Info Edge
- Zen Technologies
- Paras Aerospace
India aims to play a major role in the world’s drone economy.
5. Software Computing
India will play a key role in software computing in the near future. Software computing platforms like cloud computing, Software as a Service (SaaS), and Internet as a Service (IaaS) are providing immense employment opportunities for Indians.
Advancements in cloud computing will make the internet more accessible and affordable for Indian citizens.
Many Indian companies are concentrating on cloud computing and eCommerce sectors. India's cloud-based software sector will make notable progress in the next few decades.
Top Indian software computing companies include:
- Hyperlink InfoSystem
- HCL Technologies
- Tech Mahindra
6. Virtual and Augmented Realities
The Indian IT industry plays a critical role in developing Augmented Reality (AR) and Virtual Reality (VR) solutions. These emerging technologies were once called science fiction. Thanks to IT advancement, Virtual and Augmented Realities are a sure bet for the future.
VR and AR are mainly applicable in the gaming industry. Gaming platforms provide virtual games that create highly interactive experiences.
India is a top player in the gaming sector. Many young Indian entrepreneurs are designing gaming apps redefining the world's virtual games. VR and AR will affect future industries such as education, healthcare, navigation, defense, and architecture.
Top Indian Virtual Reality and Augmented Reality companies include:
- Innovacio Technologies
- Zartek Technologies
- iBoson Innovations
7. Blockchain Technology
India plays a pivotal role in blockchain technology. Indian blockchain companies provide enterprise-grade security that protects information from manipulation. Data becomes safe once validated into the blockchain.
India’s IT industry contributes to the improvement in blockchain technology. More industries will adopt the technology to share data and perform transactions in the near future.
Leading Indian blockchain technology service providers include:
- MobiWeb Technologies
- Agnito Technologies
- Mind Inventory
8. Robotic Process Automation (RPA) and Intelligent Process Automation (IPA)
Robotic Process Automation (RPA) uses software robots to automate key processes by copying human actions. Businesses use RPA to perform high-volume and repeatable tasks with little or no human assistance.
Intelligent Process Automation (IPA) uses AI technology to manage and automate end-to-end business processes. IPA can handle more complex and cognitive tasks compared to RPA.
The Indian software industry is developing Intelligent Process Automation (IPA) tools that perform automated responses to emails, transaction processing, and language interpretation. The RPA and IPA industries are in their infancy, and India has a good chance to become the market leader.
How You Can Benefit From the Emerging Technologies and Development of the Indian IT Industry
As an individual, you can benefit from the development of the Indian IT industry by positioning yourself for future opportunities.
You need to choose the right technical and employability skills and career path to become relevant in the Indian IT industry for the next 20 years. We have collected the top opportunities for you.
1. More Entrepreneurial Opportunities for IT Startups
Indian entrepreneurs can benefit from the development of the IT industry. Many Indian startups are developing products for these emerging technologies. These developments have made it easier to access financial loans for other Indian entrepreneurs.
India is one of the best countries to start a business thanks to its massive population and favorable legislation. As an entrepreneur, you need essential entrepreneurial skills to run a profitable IT business.
2. Topnotch Healthcare Industry
The healthcare industry is the center of many emerging technologies. Artificial Intelligence (AI) and other innovations are helping health practitioners deliver excellent healthcare services to patients.
Telemedicine enables medical professionals to provide health services to distant patients. With the rapid growth of healthcare IT products, smart medical professionals can build their medical careers around these products.
3. Enhanced Agricultural Productivity
Improved mechanized farming in today's agricultural sector ensures high productivity. Precision farming and advanced irrigation systems allow farmers to enjoy conducive and less risky operations.
As a farmer, you can increase your productivity with these emerging technologies. New technologies in the agricultural sector have improved crop development and research, reducing the problem of the short shelf life of many crops.
Future improvements in agricultural science will help you mix crops to yield new varieties resistant to diseases and pests.
Entrepreneurs can profit from India’s growing mechanized agricultural market by producing and selling top agricultural tools.
4. Manufacturing and Retailing Industry
India’s online manufacturing and retailing industry are huge. With the massive potential for more growth, no serious online business will neglect the Indian market.
Besides improving manufacturing and retailing technologies, modern manufacturing processes are replacing older ones.
5. Education Sector
E-learning has revolutionized the global educational sector. The developing IT industry in India has produced better teaching aids, educational software, and robots that improve teaching and learning.
As an educationist, you must adapt to technological innovations in the sector to avoid becoming non-essential. India has a large youth population. Innovative EdTech solutions will open opportunities for job creators and seekers in India’s educational sector. Smart educationists are using innovations in the IT sector to create a favorable environment for teaching and learning.