Exponential growth in the information technology domain marked the dawn of the 21st century. Continuing expansion in computing power will further ensure that newer and better technologies will continue to emerge at a pace faster than any other time in human history. The term ‘emerging technology’ can be defined as development of either a new technology or continuing advancement of existing technologies which may be widely available within the next few years. 3D printing, artificial intelligence, robotics, nanotechnology, 5G wireless communication, stem cell therapy and distributed ledger are a few examples of such technologies. Significant economic, social and military benefits can accrue for India by investing in emerging technologies and provide an impetus to its aspiration of being a major player in a multipolar world order. However, it will need to proactively address constraining factors such as India’s lack of quality education and its underdeveloped research and development (R&D) infrastructure to derive maximum benefit resulting from development of emerging technologies.