Context

Across major global economies, mastering the technological revolution is paramount, from China to the US. India needs to innovate to stay competitive amidst this trend.

Election 2024 Discourse

• Indian Tech Policy: Technology policy may not be a prominent topic in India’s current election discourse.  
  • However, the incoming government in Delhi will face significant challenges stemming from rapid technological advancements.
• Global Tech Challenges: These challenges include navigating the impact of technological changes on major economies, geopolitical rivalries, and global governance of key areas such as artificial intelligence, space industrialization, and the bioeconomy.

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China’s Deep Tech Push

• Campaign for Mastering New Productive Forces: The Chinese Communist Party (CCP) is spearheading a campaign to master the “new productive forces.”
  • This campaign is pivotal to Beijing’s ambition of surpassing Washington in advanced science and technology production and ascending to the top of the global power hierarchy.
• Government Support: Li Qiang pledged a “new leap forward” in supporting advanced technology sectors with priority areas electric vehicles, new materials, commercial spaceflight, quantum technology, and life sciences.
• Shift to Technology-Intensive Economy: The concept of transitioning from labor-intensive to technology-intensive production has been endorsed for some time.
  •  Previous leaders like Hu Jintao emphasized “scientific development” and the importance of technology and innovation for societal advancement.
• Strategic Objective: China aims for full control over the new productive forces to reduce reliance on foreign technologies. 
  • China has achieved dominance in sectors like solar panels and battery storage but trails the US in semiconductor production and generative AI innovation.

Technological Investment of the West

• Biden Administration’s Focus: The administration achieved bipartisan support for three significant pieces of legislation:
  • The Infrastructure Investment Act.
  • The CHIPS Act.
  • The Inflation Reduction Act.
• Limiting Support for Chinese Technological Development: The Biden administration aims to restrict US capital support for Chinese technological development. Measures include limiting advanced technology exports from the US and its allies to Beijing.
• Formation of Global Technology Coalitions: The US is forging new technology coalitions with allies, such as the Quadrilateral forum with Australia, India, and Japan.
• • Additionally, the “Chip-4” alliance includes the US and leading semiconductor producers: Japan, South Korea, and Taiwan.
  • Bilateral partnerships in critical and emerging technologies are being established, including the iCET partnership with India.
• France’s Call for European Technological Sovereignty: French President Emmanuel Macron emphasized Europe’s need to reclaim a significant role in global technological power distribution.
• • He called for strengthening Europe’s “industrial and technological sovereignty” to close the gap with the US and China.
  • Macron advocated for substantial investments in AI, quantum computing, space, biotechnology, and new energy technologies like green hydrogen and nuclear fusion.

India’s Task – Beyond Manifestos

• Leveraging Technology for Development: Prime Minister has utilized digital technologies for service delivery and emphasized investments in renewable energy over the past decade.
  • A mission mode approach has been adopted to revive India’s semiconductor production, and strategies for accelerating India’s AI capabilities have been developed.
  • Technology has been a focal point of the government’s foreign policy, especially in building strategic partnerships with the US and Europe.
• Need for Sweeping Technological Overhaul: There is a need to significantly increase national expenditure on R&D and encourage greater private sector participation in research, development, and production of modern technologies.
• Modernization Imperatives: The existing S&T monopolies under government control are outdated for India’s goal of building a technology-driven economy.
  • Modernizing India’s technological foundation is crucial for economic and national security objectives.

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Conclusion

The next government must prioritize this agenda to ensure India’s inclusion in the global landscape of “new and high-quality forces of production.”

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