The government of India has introduced the Union Budget 2020, and the budget has dedicated funding allocated to developing and encouraging Quantum technology. This decision of the Indian government is one of the ideal choices at this point as the world is heading towards technological advancements and is paying attention to quantum computing. Advancements in quantum technology will also play a significant role in making a pathway for cybersecurity upgrades.
Sanchit Vir Gogia, CEO and Chief Analyst of Greyhound Research says that this is the most appropriate time for the government to invest in quantum technology. He said that most quantum investments had been witnessed in the US, so it would be great to invest in setting-up quantum technology in India as tech giants like Google and IBM are heading towards investing a large amount of money in Asia and India’s quantum setup will incline them towards investing in the country.
In the speech, India’s Finance Minister Nirmala Sitharaman said that the government will allocate a budget of Rs 8,000 crores over the next five years to support and encourage the National Mission on Quantum Technology also termed as Quantum-Enabled Science and Technology (QuEST) program.
Back in October 2019, Google became the first brand in the world to achieve Quantum supremacy as the 54-bit Sycamore processor by Google was able to perform a calculation in just 200 seconds which would have been executed by a supercomputer in 10,000 years.
The Department of Science in India is working on a national mission based on Quantum technologies and applications. The main focus of the mission is to partner with companies and various institutions to create domestic quantum technology set up.
Several Indian technology service providers have been working out on the research and development of quantum computing in India.