India has been on an unprecedented growth trajectory in the world of science and technology. With an ecosystem that is developing to give more chances to young minds and new ideas to flourish, India’s growth has been awe-inspiring for many across the globe. The success of experienced individuals in different fields of science and technology, coupled with the above-stated incubation opportunities for their ideas, has ensured that the country has registered an affirmative presence in the science and technology space.
As a country, we have not only adapted to new trends and emerging technologies but have also developed programmes and technologies that are leading the charge of change. For a country that is not even a century old, this is a big deal! India’s prolific growth in the science and technology space inspired me to reflect back and look at some of the key Indian achievements that not only filled me with pride but, I am sure, will also do the same for you as we celebrate India’s 77th Independence Day this 15th of August. These achievements not only highlight India’s current stronghold but also project a future that is filled with promise. A promise of advancements and learnings that will push us nowhere but up in the rankings. Let’s have a look –
UPI – The seed that grew the plant of digitisation
Remember the days when you had to look for exact change after an auto ride or the horror of realising that you did not carry enough cash to purchase your much-awaited GPU? Well, thanks to the Unified Payments Interface (UPI) introduced in 2016, they are a thing of the past. Now, with just a scan of a QR code, you can make secure payments and reduce your reliance on physical currency.
While UPI has made our lives easier, it has also put India on the global map when it comes to the digital payments ecosystem. Let’s put that into context with some numbers. As stated by Reserve Bank of India Governor, Mr Shaktikanta Das, in a press conference earlier this year, India accounts for 46 per cent of digital payments across the world. Astonishingly, UPI makes up 80 per cent of all the digital payments in the country. If that is not a testament to the widespread adoption of UPI, then I don’t know what it would be.
The best part of it all, UPI is now going global! Having already expanded UPI’s presence in countries including – Sri Lanka, Mauritius, France, UAE, Singapore, Bhutan, and Nepal, the Reserve Bank of India (RBI), along with NPCI International Payments (NIPL) are in the process of expanding the presence of UPI in other countries too! The target for this expansion is to increase UPI’s reach to over 20 countries by FY 2028-29.
This move will not only solidify India’s presence in the global digital payments space, but it will also open the gates for the country to take the lead in transforming the way in which we make cross-border payments.
ISRO – The most cost-effective space agency in the world
Indian Space Research Organisation’s achievements are all to write home about. From stellar accomplishments like making India the first nation to land on the South Pole of the Moon to contributing to international projects that could redefine our understanding of space, the list is endless. However, in addition to all this, ISRO has emerged as one of the most cost-effective agencies in the world. Again, let’s make the numbers do the talking –
India’s Mars orbiter mission, dubbed the Mangalyaan, is a prime example of how ISRO can achieve what other agencies often dream of at a fraction of the cost. You may have come across this statistic quite often on the internet, but to set the context here, I am mentioning it again. The total cost of the Mangalyaan mission for ISRO was approximately $73 million. On the contrary, a movie about Matt Damon’s character’s experience on Mars, The Martian, was made in 2015, and it was produced at a cost of $108 million. That is a $25 million difference in cost right there! And, if that is not enough, the time between the start of ISRO’s Mangalyaan project and the launch was just 18 months.
No one can imagine a scenario where countries that are developing their space program are looking for a place to make their ideas a reality. Where would they go? To a country which is brimming with some of the brilliant scientific brains across the globe and can execute the incoming country’s visions at a cheaper cost. Right? Well, that place is going to be India.
With more and more countries turning their eyes towards India as ISRO sets unprecedented milestones in a very cost-effective manner, we will soon see India’s rise to becoming the space science and technology factory of the world. Fingers crossed, and hopes to the moon!
Also Read: Apple completes 25 years in India: What CEO Tim Cook said about the milestone
Smartwatches – Indians are adapting to emerging technologies
If you have been out and about in the last couple of years, especially after the COVID-19 pandemic, or have observed market trends, you would have seen a lot of people rocking smartwatches on their wrists. If not that, the very fact that there are numerous options available on e-commerce platforms and services like Blinkit and Swiggy Instamart are already selling smartwatches on their stores is indicative that Indians are looking at smartwatches now more than ever before.
This increased demand is also reflected in the recent statistics published by the research agency Counterpoint. Their report, published on June 6, showed that India has come to be at the top of the smartwatch markets across the globe in Q1 2024. This is also corroborated by the insights published by IDC, which suggests that the smartwatch shipments in the country clocking in at 9.6 million. India’s rise becomes even more astonishing, as this is the first time the growth trajectory flattened for the first time in two years. Yet, we maintain the crown of being one of the biggest smartwatch markets in the world!
India is a country where price-conscious consumers are often slow to adopt technology trends. But this stellar demand for smartwatches, complimented by the presence of some excellent offerings introduced by home-grown brands, showcases a trend that Indian consumers are open to new technologies. To add a personal anecdote here, during the launch event of the OnePlus Open, which was also held in India late last year, there was a line of at least 100-150 people to pre-book the phone. Mind you, this is a phone priced north of 150K INR. This was OnePlus’ first foldable phone. This shows that Indians are more open than ever to adopting new technologies.
What is the road ahead?
Well, growth trajectories across different sectors of science and technology have set the tone for India’s growing prominence on the global stage. There is enough data hinting at this rise. You read some here, and a simple search will showcase that India’s growth chart is on an upward trajectory. What we as citizens need to do is to support the drivers of this growth as much as we can. There will be roadblocks along the way, but we need to take charge and pave the way to foster innovation and growth in India and give Indian researchers and developers, and passionate inventors, the ecosystem that they need and deserve.
If you are someone who is developing something in the world of science and technology or know someone else who is, write to me at satvik@digit.in, I would love to hear from you and explore their journey.
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Satvik Pandey
Satvik Pandey, is a self-professed Steve Jobs (not Apple) fanboy, a science & tech writer, and a sports addict. At Digit, he works as a Deputy Features Editor, and manages the daily functioning of the magazine. He also reviews audio-products (speakers, headphones, soundbars, etc.), smartwatches, projectors, and everything else that he can get his hands on. A media and communications graduate, Satvik is also an avid shutterbug, and when he's not working or gaming, he can be found fiddling with any camera he can get his hands on and helping produce videos – which means he spends an awful amount of time in our studio. His game of choice is Counter-Strike, and he's still attempting to turn pro. He can talk your ear off about the game, and we'd strongly advise you to steer clear of the topic unless you too are a CS junkie. View Full Profile
