'Where are India’s Nobel laureates?’ Myntra founder Mukesh Bansal drops truth bomb, calls for a ‘Manhattan Project’ to drive innovation

Myntra and CureFit founder Mukesh Bansal said India needs 100 original IP (intellectual property) unicorns and a new wave of Nobel laureates in 21st century to achieve the dream of 'Viksit Bharat' (developed nation) by 2047.

To make 'Viksit Bharat' a reality, Bansal said India needs a radical shift by increasing R&D spending to 1.5-2% of GDP from 0.6% currently; building a deep-tech startup ecosystem with strong industry-academia collaboration; strengthening STEM education and inspire a love for science and math from an early age; encourage researchers & faculty to launch companies and commercialise innovation; invest in long-term research to drive breakthrough discoveries and original IP.

Asking where are India's Nobel prizes in this century, Bansal said, “For 2,000 years, India led the world in science, mathematics, and astronomy. In the 20th century, pioneers like CV Raman, S. Chandrasekhar, Abdus Salam, S.N. Bose, and Ramanujan shaped global scientific thought. Three of these got the Nobel and S.N Bose's work is enshrined in Bose-Einstein condensate and bosons (all forces particles in nature).”

“Institutions like IISc (Indian Institute of Science), TIFR (Tata Institute of Fundamental Research), IITs (Indian Institute of Technology), and BARC (Bhabha Atomic Research Centre) laid the foundation for our modern R&D ecosystem, while visionaries like Homi Bhabha, Satish Dhawan, and APJ Abdul Kalam pushed the boundaries of what was possible with limited resources,” said Bansal.

Yet today, the country heavily depends on the U.S. and China for cutting-edge technologies like AI, GPUs, semiconductors, quantum computing, biotech and new blockbuster drugs, said Bansal. “A handful of global firms are shaping the future of innovation,” he added.

“If ever there was a time for a Manhattan Project for Indian science and tech, it is now,” he said.

“India has the talent. Now, we need bold leadership, decisive reforms, and a moonshot mindset,” said Bansal.

“The goal? 100 original-IP unicorns and a new wave of India Nobel laureates in 21st century. The dream of Viksit Bharat critically depends on this. Time to act is now,” he added.

Bansal is an investor in Hyderabad-based space tech startup Skyroot Aerospace.

While India has large services firms, especially in the IT sector, the country has very few homegrown product companies which are known globally for their prowess.