logo
Andhra govt unveils Amaravati Quantum Valley plan, eyes USD 1 bn investment by 2029

Andhra govt unveils Amaravati Quantum Valley plan, eyes USD 1 bn investment by 2029

Time of India6 hours ago
Live Events
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Amaravati, The Andhra Pradesh government on Monday approved the Amaravati Quantum Valley Declaration, which will guide the state's efforts to advance quantum technologies and build a vibrant innovation ecosystem, including attracting USD 1 billion in investments by January 1, 2029.The declaration follows deliberations held during the recent Quantum Valley Workshop in Vijayawada."The Government hereby approves the Amaravati Quantum Valley Declaration. This shall serve as a guiding framework for the state's efforts to advance quantum technologies and nurture a vibrant innovation ecosystem," said Bhaskar Katamneni, Secretary to the Government, in a GO.The declaration outlines shared commitments, a long-term vision, and strategic priorities for quantum research , innovation, talent development, infrastructure creation, and international partnerships.It reflects Andhra Pradesh's ambition to transform Amaravati into a globally competitive hub for quantum science and technology.The workshop hosted discussions on quantum computing , algorithms, hardware, quantum sensing and communication, quantum materials, capacity building, standardization, and a startup ecosystem for innovation.As part of joint commitments from global partners, scholars, startups, industry leaders, and other stakeholders, the Amaravati Quantum Valley (AQV) will establish a Living Lab Infrastructure.This includes setting up QChipIN , India's largest open quantum testbed, within a year. It will integrate quantum computers, QKD fibre links, and deployable sensor platforms to support pilot projects across health-tech, Banking, Financial Services, and Insurance (BFSI), logistics, defence, and space sectors.QChipIN will provide end-to-end access to quantum hardware, algorithms, tools, and expert support, housed within a dedicated tech park in collaboration with industry and academia to accelerate domestic R&D.By January 1, 2026, IBM is expected to install its Quantum System Two at AQV, with a target of testing 100 quantum algorithms by the same time. By January 1, 2027, three quantum computers based on different qubit technologies-including superconducting circuits, trapped ions, photonic qubits, and neutral atoms-are planned.Further targets include testing over 1,000 quantum algorithms annually by January 1, 2028, and achieving 1,000 effective qubits of total quantum capacity by January 1, 2029.To boost domestic production, AQV will anchor the indigenous supply chain for qubit platforms, cryo-electronics, photonic packages, quantum chips, quantum dots, readout hardware like single-photon detectors, and control systems, to reach Rs 5,000 crore in annual exports by 2030.In addition to talent development, AQV will spearhead the creation of a National Startup Forum with milestone-based VC funding and mentorship.A dedicated Rs 1,000 crore Quantum Fund and access to Living Lab infrastructure will support at least 20 quantum hardware and security startups in the next year and 100 by 2030, said the declaration. Startups will also benefit from regulatory sandboxes.The quantum valley aims to attract a minimum of USD 500 million in investments by January 1, 2027, and USD 1 billion by January 1, 2029, focusing on quantum computing, chips, sensing, and communications.Andhra Pradesh will also establish a Global Quantum Collaboration Council (GQCC) in Amaravati to align international standards, foster joint R&D, and promote trusted supply chains.A multi-stakeholder Amaravati Quantum Valley Mission Board will oversee governance, with working groups identifying use cases for quantum computing across sectors.Starting in 2026, Amaravati will host an annual World Quantum Expo, with the goal of becoming India's quantum capital and a global hub for deep tech innovation by 2035.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

PSU sells Rs 52 insecticide-treated mosquito nets to govt for Rs 237 each: CBI FIR
PSU sells Rs 52 insecticide-treated mosquito nets to govt for Rs 237 each: CBI FIR

The Print

time18 minutes ago

  • The Print

PSU sells Rs 52 insecticide-treated mosquito nets to govt for Rs 237 each: CBI FIR

It was the sole bidder despite lacking its own manufacturing capacity, quoting rates of Rs 228-Rs 237 per unit. The PSU — Hindustan Insecticides Ltd (HIL) — secured a Rs 29 crore contract from the Central Medical Services Society (CMSS) in 2021-22 for the supply of more than 11 lakh Long-Lasting Insecticidal Nets (LLINs) for malaria control over public procurement platform, Government e-Marketplace (GeM). New Delhi, Jul 7 (PTI) The CBI has registered an FIR in an alleged procurement scam wherein insecticide-treated mosquito nets, priced at Rs 49 to Rs 52 per piece, were reportedly procured and sold to the CMSS under the Union health ministry at inflated rates of Rs 228 to Rs 237 per piece by a public sector undertaking, officials said on Monday. HIL went on to subcontract the work to empanelled vendors, providing raw materials and chemicals while vendors undertook production and insecticide treatment. Bypassing the lowest bidder, Shobikaa Impex, the officials at HIL initiated a procurement chain that ultimately channelled the order through Mohinder Kaur Knitting Pvt Ltd, a company with no manufacturing capacity of its own, the FIR alleged. According to the FIR, the actual production was executed by VKA Polymers, which sold nets to JP Polymers — a closely linked firm — at Rs 49 to Rs 52 per unit. By the time the product reached HIL via this chain of intermediaries, the price had ballooned to Rs 87 to Rs 90 per unit. HIL, in turn, supplied the nets to CMSS at Rs 228 to Rs 237 per piece, raising suspicions of price manipulation and kickbacks. VKA Polymers and JP Polymers are interlinked entities managed by family members — Anand Samiappan and M. Sakthivel, respectively– the FIR alleged. It added that Balvinder Singh Tandon, Director of Mohinder Kaur Knitting, coordinated the execution of HIL's purchase orders through his company. The inflated pricing funnelled through multiple companies allegedly caused a loss of Rs 6.63 crore to CMSS, while HIL and its intermediaries profited from the markup. In its FIR, the agency has named Mohinder Kaur Knitting Pvt. Ltd, its Director, Balvinder Singh Tandon, VKA Polymers Pvt. Ltd and its Director, Anand Samiappan, JP Polymers & Nets and its partner M. Sakthivel, besides unidentified officials of HIL India Ltd and the Central Medical Services Society. The CBI has invoked sections of criminal conspiracy and cheating under the Indian Penal Code, as well as provisions of the Prevention of Corruption Act, against them. PTI ABS RHL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

Centre sanctions 300cr for capital projects in Goa
Centre sanctions 300cr for capital projects in Goa

Time of India

time27 minutes ago

  • Time of India

Centre sanctions 300cr for capital projects in Goa

On June 27, Sajjan Jindal's JSW Paints had announced a ₹12,915-crore deal to acquire Akzo Nobel India, with the aim to become India's fourth-largest paint company. Panaji: Union govt sanctioned Rs 300 crore for state govt towards special assistance (loan) under part IX of the Scheme for Special Assistance to States for Capital Investment, 2025-26. It said the state must ensure there is no duplication in funding of the capital projects approved under the scheme, either with the funds provided by Govt of India or state govt. 'In case of unavoidable changes in the specific projects for which funds are being released, state govt shall seek the approval of Govt of India for the change. Funds will not be provided in case of unapproved changes,' Jitendra Kumar Verma, assistant director of public finance, said. A capital project is a significant, long-term investment focused on building, acquiring, or improving physical assets. State govt, in its letter, said it successfully onboarded the five centrally sponsored schemes: PM Usha, PM Abhim, RKVY, Krishionnati Yojana, and PM Matsya Sampada Yojana. Hence, Union govt requested the sanction of Rs 250 crore to Goa for successfully onboarding the five schemes. Goa mentioned that the mother sanctions for seven centrally sponsored schemes are continuously being sought, but the same is awaited from the respective Union ministries. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Beyond Text Generation: An AI Tool That Helps You Write Better Grammarly Install Now Undo 'Hence, we kindly request you to sanction an additional allocation of Rs 250 crore under part XI of the scheme as govt has already done mapping of all these schemes,' finance under-secretary Pranab Bhat, said. Mother sanction is the first and foundational approval for a project or scheme. In April, state govt had urged Centre to release Rs 300 crore in special assistance for capital investment as it successfully onboarded centrally sponsored schemes. Chief minister Pramod Sawant, in a letter to Union finance minister Nirmala Sitharaman, stated that Goa had successfully onboarded six centrally sponsored schemes and is eligible for Rs 300 crore as special assistance under the scheme. The budgetary outlay for 2025-26 is Rs 28,162 crore, of which Rs 20,299 crore will go towards salaries and loan repayment, while just 26%, or Rs 7,863 crore, will be used to create new infrastructure. The budget estimates total receipts of Rs 27,994 crore, a 13% rise over the revised estimates of 2024-25, while total gross expenditure stands at Rs 28,162 crore, including Rs 7,863 crore for capital expenditure. The govt's substantial borrowing repayment of over Rs 3,500 crore began in the financial year 2025-2026.

Consumer commission slaps Rs 4.6L fine on agri firm
Consumer commission slaps Rs 4.6L fine on agri firm

Time of India

time28 minutes ago

  • Time of India

Consumer commission slaps Rs 4.6L fine on agri firm

Dharwad: The Dharwad District Consumer Grievances Redressal Commission has slapped a penalty of Rs 4.6 lakh on M/S Guru Hindustan Agro Industries for providing a faulty machine and deficiency in service to a consumer. Tired of too many ads? go ad free now Dymappa Hanchinal, a farmer from Navalgund had purchased a harvesting machine from the dealer, Gamachari Agro Industries based in Belagavi, by paying Rs 3.5 lakh. He had taken a loan from the bank to purchase the machine. The dealer had told the farmer that the machine would separate the grain and dust. Dyamappa found that the machine was not separating the grain and dust and complained about this to the dealer. He found that other farmers were also facing the same problem. When repeated pleas to get the machine repaired failed, Dymappa approached the District Consumer Grievances Redressal Commission seeking remedy. On examining the case in detail, the commission headed by judge Eshappa Bhute decreed that there was deficiency in service to the consumer by the Guru Hindustan Agro Industries Company and ordered that the company refund Rs 3.5 lakh, along with interest at the rate of 8%. Additionally, it ordered payment of Rs one lakh as compensation for the mental agony and inconvenience suffered by the consumer and another Rs 10,000 towards court expenses.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store