Budget 2020: Quantum technology and its importance in India

In her Budget speech, Union Finance Minister Nirmala Sitharaman unveiled a Rs 8,000 crore outlay over a period of five years for the National Mission on Quantum Technologies and Applications.

While many are focussed on the tax bonanza in the Union Budget 2020, a push for the emerging markets globally by the Indian Government also received positive reactions.

"Quantum technology is opening up new frontiers in computing, communications, cybersecurity with wide-spread applications. It is expected that lots of commercial applications would emerge from theoretical constructs that are developing in this area," said Nirmala Sitharaman during her budget speech.

As the Government, with its announcement, opened new avenues for the exponential technology like artificial intelligence, DNA data storage, etc, this is what it means for India.

What is Quantum technology?

Quantum technology is an emerging field of physics and engineering. It rallies on the principles of quantum physics that creates practical applications such as quantum computing, quantum sensors, etc.

Quantum computing, if introduced in India, is expected to have several significant uses such as optimisation and machine learning. In layman's words, it will be able to solve complex computations more effectively than classical computers (like your desktop), according to researchers.

"It is expected that at lot of commercial applications would emerge from theoretical constructs which are developing in this area," Sitharaman said in her speech.

How will it help India?

A boost in Quantum computing will help India to come on par with the United States and China. It will also help investors to invest in Quantum computing in India, which will help in India's economy.

Google is the first company in the world to achieve Quantum Supremacy. Over the world, only well-known companies like Google and IBM use technology.

Recently, the Ministry of Electronics and IT signed an agreement with Israel for joint research in 27 possible areas which include quantum computing as one of the potential segments.

This will put India on the world's Quantum-map.