India aims for deep-tech leadership in diamonds and semiconductors

Experts and leaders at IIT Madras are outlining the roadmap for India to transition from a producer to a global technology leader in deep-tech sectors, including laboratory-grown diamonds, semiconductors, and quantum technology.

M. S. Ramachandra Rao, a professor at IIT Madras, noted that while India holds a significant share of the global market for growing and polishing laboratory-grown diamonds, it lacks domestic ownership of the critical upstream technology. To achieve leadership, India must develop an indigenous technology chain, including MPCVD reactors, HPHT presses, and diamond seed plates, moving from material production to the fabrication of electronic and quantum devices.

Natarajan Malupillai, Group CEO of IIT Madras Research Park, emphasized that while there is growing interest in space, material science, and electric vehicles, India remains in a nascent stage. He suggested it could take another decade of ecosystem building and market penetration to emerge as a global leader. To support this transition, the IITM Unicorn Frontier Fund-I has begun deploying capital into deep-tech startups specializing in rocket engines, quantum technology, battery technology, and carbon capture.