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The menu of tomorrow’s IT courses would be completely changed by what’s currently being marinated in quantum computing trays. From cryptography to heavy simulations to huge AI workloads to Cloud. Let’s open the doors of this cold, but busy, kitchen area for a minute to get a sense of what Indian ice-boxes are up to.
There used to be a time when refrigerators were assessed on ‘Who’s the biggest’. As sensors, smartphones, and analytics crawled around those egg trays, the slogan changed to ‘Who’s the smartest’. We shouldn’t be surprised if the next neon-sign becomes about ‘who is everything’. A dish-washer, a geyser, an oven, a Butler- all rolled into one silicon-weds-steel marvel.
The battle-cry and arsenal of Quantum Computing could be following that same path. And that should be good news for India because now the game can be won at any level- processors, applications, software, architecture, supercomputers, devices, cooling rooms – anything. Are we getting these new shelves and lights right as we build our quantum advantage? How well did we do in 2024?
The Tupperware-Check
But first, why does talking about Quantum Computing (as we wrap up 2024) matter? Juniper Research has estimated total quantum technology revenue in 2024 stood around $2.7 billion and that’s something that can easily rise to $9.4 billion by 2030. As to the post-quantum cryptography market alone (which, interestingly, is driven by the rising need to secure digital infrastructure against quantum computing threats and hence to advancements in cryptographic algorithms) - that market is galloping fast to reach $17.69 billion by 2034 – up from $356.4 million in 2023 (ResearchandMarkets data).
One of the most significant developments this year has been the establishment of quantum computing labs and centres across various academic and research institutions. - Parul Trivedi, Everest Group
And if we look at McKinsey analysis for the third annual ‘Quantum Technology Monitor’ we observe that sectors like chemicals, life sciences, finance, and mobility have a likelihood to see the earliest impact from quantum computing and could gain up to $2 trillion by 2035. The 2024 McKinsey report also dives into how Quantum error-correction proposals and demonstrations by large companies reflect steps toward large-scale, fault-tolerant quantum computing. Note how Record qubit fidelity of 99.5 per cent (by QuEra, MIT, and Harvard) and, recently, 99.9 per cent (by Microsoft and Quantinuum) were made possible by combining new error-correction schemes and groundbreaking architectures for logical qubits. A lot of work is going on in the area of Quantum Sensing as well wherein researchers are developing improved techniques to control ensembles of solid-state spins for a range of sensing applications. As we speak, players, both big and small, giants and dark horses, are working on amping up their game on qubits, fidelity, error-reduction and new architectures.
As Raghunandan Pulijala, Assurance Digital Leader, EY Global Delivery Services translates what’s out there into some specific context for India, Quantum computing can transform every sector, with India making strides in readiness and application. “The accelerated and enhanced computational power of quantum is revolutionising a range of use cases, from clinical trials to inner city transportation systems. This year, the focus has been on quantum and the potential to revolutionise cryptography and solve complex problems beyond the reach of binary devices. The technology will not only help solve challenges currently beyond our reach, but it will also open completely new and previously unimagined areas of science and commerce.”
For instance, Quantum computing is poised to revolutionise the finance sector in India by enabling unprecedented computational power and speed, Pulijala tells. “This technology can handle complex financial models and simulations that are beyond the capabilities of classical computers. In the finance industry, quantum computing can enhance risk management, optimise investment strategies and improve fraud detection by analysing vast amounts of data more efficiently. As India continues to advance in this field, leveraging quantum computing will help in gaining a competitive edge and drive innovation.”
So how ready is India, and is that happening in the right direction?
Refilling the same ice trays?
Although it is still in its early stages, India’s road towards quantum computing is gathering steam, observes Nidhi Gupta, Senior Analyst, Technology Research & Advisory, Aranca. “At prestigious universities like IISc and IIT, government programs like NMQTA promote algorithms, hardware (superconductors and photonics) research, and error correction. India is working on smaller processors and simulators, but the ultimate objective is to create substantial quantum computers. In 2024, there’s a growing focus on building better local connections between schools, companies, and government offices.”
Parul Trivedi, Practice Director, Everest Group considers the strong foundation that India has laid in quantum computing, particularly with the launch of the National Quantum Mission (NQM) in 2023. “This ambitious initiative has catalysed substantial investments and research efforts in the field. One of the most significant developments this year has been the establishment of quantum computing labs and centres across various academic and research institutions. These centres are fostering innovation and collaboration among researchers, leading to breakthroughs in quantum algorithms, quantum error correction, and quantum hardware.”
In 2018, India launched its first quantum initiative with an $8 million budget. Fast forward to today, and we’re looking at `8,000 crores in funding and over 40 startups actively pushing boundaries in quantum technologies, applauds Shadab Hussein, Senior Associate, at MathCo. “It is clear- India has the right appetite when it comes to quantum technology! There is an ongoing research initiative within this space in India. With the National Mission on Quantum Technologies and Applications (NM-QTA), launched in 2020, the nation is establishing a robust quantum ecosystem. This mission supports advancements in quantum computing, secure communication, and sensing. There is immense research support from leading educational institutes like IISc Bangalore and IIT Madras, Bombay, and Delhi.”
One of the key achievements that Hussein illustrates is the establishment of the four Thematic Hubs (T-Hubs) focused on quantum computing, communication, sensing, and materials. “These hubs are driving research across 43 institutions and fostering collaboration between academia, industry, and government.
Poornima Bethmangalkar, Head of the Industrial, Manufacturing, Energy & Utilities Industry Group, Happiest Minds looks optimistically at the Indian government’s NMQTA to foster research and innovation in quantum computing and admires how numerous leading companies and startups are actively exploring advancements in quantum technology. “This year, the emphasis on building quantum talent and collaborations with global tech giants caught attention, with initiatives in quantum algorithms and infrastructure.”
What’s interesting here is how and why more big companies like Google and IBM are working together with regional partners. Investment firms are getting more involved, with support from tech companies like Infosys and TCS. “Key areas of interest include secure computer coding, new medical treatments, and ways to predict economic changes. While challenges in scaling hardware and talent development remain, India’s structured approach positions it as an emerging force in quantum technology.” Gupta reasons.
This, as Trivedi echoes, is a noteworthy development – with the increasing involvement of industry players in quantum computing. “Major tech companies and startups are exploring the potential applications of quantum computing in areas like drug discovery, materials science, and artificial intelligence. This industry-academia collaboration is accelerating the pace of innovation and commercialisation of quantum technologies.
Listening to the Hum
The truth is that while we are doing splendidly in many apt and tough areas, there are others all around us across the globe that are busy in their kitchens too. Other governments and Bigtech giants alike can race ahead with the advantage of scale and a huge academic head-start that India will have to work really hard to match. Just a look at a few highlights this year should twist that knife further. Like IBM’s roadmaps on quantum-centric supercomputing, quantum devices, Qubit-in-a-Box (QIBO) and foundries from ConScience AB, PsiQuantum’s efforts in building a utility-scale fault-tolerant quantum computer, Quantum Source’s strides in fault-tolerant quantum systems and commercial photonic quantum computers, D-wave’s 5,000-qubit Advantage quantum computer, NVIDIA’s progress on quantum processors and many more.
While India is still in the early stages, its growing research infrastructure and partnerships position it well for future advancements. - Poornima Bethmangalkar, Happiest Minds
Even as use cases in healthcare, finance, and logistics are being explored, widespread adoption will take time, assesses Hussein. “That said, the ecosystem is evolving rapidly in India. Over 40 quantum-focused startups have emerged in just two years, showcasing India’s ability and appetite to innovate and attract talent. As these companies mature, they will bridge the gap between research and real-world applications, accelerating quantum’s journey to mainstream adoption. Today barriers remain in the space of talent development, infrastructure availability, and lack of awareness.”
While India is still in the early stages, its growing research infrastructure and partnerships position it well for future advancements, Bethmangalkar assures. Trivedi seconds that- We may be in the early stages of quantum computing, but the strong government support, growing academic and industry interest, and international collaborations position India well to become a major player in this emerging field.”
Rightly augured! Rightly hoped! Because the best Tetris is played when we are re-organising stuff in our refrigerators and taking out all the leftovers. Once that game is mastered, everything else is just ‘Chess’. Even business ‘Golf’.
By Pratima H
pratimah@cybermedia.co.in