Archive · 3 Oct 2026
India’s Startup Boom Faces a Test of Deep Innovation
A book called The Lift-Off Nation says India has a chance to become a leading place for new ideas and businesses by 2047.
Its authors explain that earlier technology industries helped people gain skills and confidence to start companies.
They say today’s businesses work in many areas, including software, finance, AI and manufacturing.
The book also says Indian companies should make products that can succeed around the world.
But starting many companies is not the same as inventing important new technology.
The reviewer says India spends too little on research and development.
The reviewer also worries about who gets opportunities and whether AI companies can keep enough value in India.
The book is hopeful, but lasting success will depend on better research, patient investment and sound policies.
The Lift-Off Nation argues that India could become a major global innovation centre by 2047.
Authors Rajan Anandan and Saurabh Srivastava describe the current startup surge as a third wave, following IT services and mobile internet businesses.
The book credits IT services with building skills, global experience and entrepreneurial role models, while tracing the growth of a broader investment ecosystem.
It urges Indian companies to pursue global markets and identifies low research and development spending as a major obstacle to technological sovereignty.
The reviewer praises the book’s ecosystem-wide perspective but says its optimism can understate risks involving durable growth, AI value capture, inclusion and governance.
- Who
- Rajan Anandan and Saurabh Srivastava, co-authors of The Lift-Off Nation; the book’s arguments are assessed by reviewer Mohit Hira.
- What
- A review of a book arguing that India could become a major global innovation centre, alongside an assessment of its strengths and limitations.
- When
- The book looks toward 2047; the review gives venture investment figures for 2012–25.
- Where
- India, with discussion of Indian companies and their efforts to compete in global markets.
- Why
- The book argues that talent, capital, digital infrastructure, industrial capability and state capacity could combine to support innovation, while the reviewer highlights obstacles including low R&D spending.
The case for India’s innovation potential
The case for caution
Startup growth and global leadership
The case for India’s innovation potential
The book argues that India’s talent, capital, digital infrastructure and industrial capabilities could make it a major global innovation centre by 2047.
The case for caution
The reviewer cautions that startup activity, funding and policy announcements do not by themselves prove that India will produce enduring companies or global leadership.
Technology and research
The case for India’s innovation potential
The book presents a broad innovation economy, spanning areas such as AI, climate technology, space, defence and advanced manufacturing.
The case for caution
The reviewer says low R&D spending and dependence on imported science, components and intellectual property could constrain technological sovereignty; the book’s discussion of AI may also understate value capture by global providers.
Who benefits from the startup economy
The case for India’s innovation potential
The book presents startup formation across sectors and geographies as part of a national innovation opportunity.
The case for caution
The reviewer says the book gives limited attention to how caste, gender, language, regional access to capital and unequal education affect who can become a founder and who benefits.
- Book
- The Lift-Off Nation
- Authors
- Rajan Anandan and Saurabh Srivastava
- Aspiration
- India as a major global innovation centre by 2047
- Venture investment
- About ₹14 lakh crore in India between 2012 and 2025, according to the article
- Investment concentration
- More than 40% of that venture investment came during 2021–22
- India R&D spending
- Reported at 0.65% of GDP
- R&D comparisons
- The article reports 2.6% of GDP for China and 6.4% for Israel, and says the book calls for India to reach at least 3%