Nearly one in every four nanotechnology professionals in the world is likely to be an Indian for the decade ending 2025, according to an Assocham-TechSci Research joint study.
From 2015 onwards, global nanotechnology industry would require about twenty lakh professionals and India is expected to contribute about five lakh professionals in the coming years, noted the study.
India's contribution in development and application of nanotechnology is expected to increase significantly due to growing investments, strong funding and increasing government initiatives to encourage growth in nanotechnology market, it said.
"Incentives for research and development, specifying manufacturing standards, infrastructure, cost and financing and weak industry-academia link are certain key barriers in commercialisation of nanotechnology in India, said Chief of Integrated Defence Staff Lt Gen Anil Chait while inaugurating a national summit on 'Nano India: Policy & Regulations' here.
In 2011, India's share in global nanotechnology research publications had reached six per cent from a mere two per cent in the year 2000, the study found.
"With its major contributions in applied physics, material science and macromolecules, India has outpaced several countries like Brazil, Taiwan, the UK and France in terms of research publication," it said.
The study cited lack of appropriate infrastructure, absence of proper skill set and expert workforce, lack of standardizations, lack of knowledge and significant brain drain as the key weaknesses of nanotechnology market in India.
However, the nanotechnology market in India is likely to witness strong growth on account of increasing government focus on developing and enhancing nanotechnology, it said.
The future of nanotechnology in India is largely dependent on the scale of investment spending and ability to introduce revolutionary products in the market, the study pointed out.
