India just committed $25 billion to Deep Tech startups. Deep Tech. That's what we're calling it now when you throw money at things that might work in a decade if the laws of physics cooperate.
The goal is cutting reliance on foreign technology. Bold strategy. Nothing says technological independence like announcing you're so far behind you need to spend $25 billion just to see the back of the pack.
China and the U.S. are racing ahead, according to the headline. Racing implies India is in the same race. India is not in the same race. India is in the parking lot asking where everyone went.
Twenty-five billion dollars. For context, that's enough to fund approximately 8,000 startups that will pivot to blockchain, then AI, then whatever buzzword McKinsey is selling next quarter. The survival rate for Deep Tech startups hovers around 10%. So India just pre-paid for 7,200 funerals with Series A decks.
Some retail trader in Mumbai is reading this headline right now and thinking he should buy calls on whatever ETF has "innovation" in the name. He will lose money. He will not understand why. He will blame America.
The beautiful part about Deep Tech investment is nobody knows if it's working until it's too late to pull out. It's a ten-year science experiment funded by taxpayers who wanted roads. But roads are Old Tech, which doesn't get you invited to Davos.
India wants to catch up. Catch up to what, exactly? The U.S. burning billions on quantum computers that can't factor 15? China's surveillance state with better cameras? Both countries are ahead, sure, but ahead in a race where the finish line is bankruptcy with better branding.
Twenty-five billion dollars to catch up to two countries that are also just guessing.
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