India's Global Leadership in Tech and Industry

In 2024, India solidified its position as a global leader with strides in pharmaceuticals, biotechnology, defence, nuclear energy, space, and emerging technologies. Key reforms and innovations spurred growth, underscoring India's commitment to sustainable and inclusive development, while enhancing self-reliance and strategic capability.

The year 2024 witnessed a transformative period for India as it emerged as a dominant force in various sectors including pharmaceuticals, biotechnology, defence, nuclear energy, space, and cutting-edge technologies like quantum computing, AI, and blockchain. Driven by innovative policies, India has firmly positioned itself as a global leader, emphasizing sustainable and inclusive progress.

Pharmaceutical exports in India surged from over USD 15 billion to USD 28 billion by the end of FY24, credited to initiatives such as the Production Linked Incentive (PLI) scheme and Bulk Drug Parks. Meanwhile, the biotechnology sector experienced a phenomenal growth from USD 10 billion in 2014 to USD 130 billion in 2024, setting an ambitious target of USD 300 billion by 2030.

Significant breakthroughs in 2024 included the development of India's first indigenous antibiotic, Nafithromycin, and the country's first home-grown CAR-T cell therapy for cancer, NexCAR19. Resuming Penicillin G production after three decades marked a step towards pharmaceutical self-reliance. Internationally, India joined the Biopharmaceutical Alliance with South Korea, the US, Japan, and the EU to tackle drug supply issues.

In defence, relaxed FDI policies, Positive Indigenization Lists, and opening defence R&D to startups led to a record Rs1.27 lakh crore in indigenous production in 2024, alongside a massive expansion in exports. Major achievements included a successful flight test of the Agni-5 missile using MIRV technology, testing the K-4 missile, and deploying the Phase-2 BMD System.

The expansion of nuclear power saw capacity doubling from 4,780 MW in 2014 to 8,180 MW in 2024, with hopes to triple by 2031-32. The Union Budget 2024-25 introduced Bharat Small Reactors and collaborations on Small Modular Reactors (SMRs), underlining India's nuclear ambitions.

Remarkable progress in India's space sector aimed at growing the space economy to USD 44 billion by 2033, with notable achievements such as the approved Venus Orbiter Mission (VOM), plans for Chandrayaan-4, and announcements of the Gaganyaan astronauts. Private sector innovation was highlighted by companies such as Skyroot Aerospace and Agnikul Cosmos.

Launching its second spaceport in Tamil Nadu and commemorating National Space Day evidenced India's growing space capabilities. Moreover, the Aditya-L1 solar mission enhanced space weather predictions, while the PRAGATI platform reduced project delays significantly.

Infrastructure witnessed futuristic projects like the completion of India's first Hyperloop test track at IIT Madras and the pilot of GNSS-enabled electronic tolling. India's advancements in technologies reinforced its global leadership in 2024, with the National Quantum Mission advancing quantum communication and government-backed multimodal AI and blockchain innovation initiatives.

(With inputs from agencies.)