Quantum technologies will exponentially increase computing speeds and impact every field
The Union budget for 2020-21 presented on February 1 allocated a humongous Rs 8,000 crore for quantum computing over a period of five years. The government said it would be used for a National Mission on Quantum Technologies and Applications.
The US, China and the European Union are all in a battle for quantum superiority. In 2018, US President Donald Trump signed a law that earmarked $1.2 billion for quantum research. Chinese President Xi Jinping has committed billions of dollars for quantum computing, including to establish a Chinese National Laboratory for Quantum Information Sciences. China expects to achieve significant quantum breakthroughs by 2030. India clearly does not want to be left behind.
Quantum technology is opening up new frontiers in computing, communications, cyber security with wide-spread applications. It is expected that lots of commercial applications would emerge from theoretical constructs which are developing in this area