India @2047: Transforming India into a Tech-Driven Economy

This report done in partnership with Bain & Company outlines a strategic technology-led roadmap to transform India into a high-income country with a projected GDP of $35 trillion. India’s demographic dividend, technological innovation, and tech-led sectoral transformations will be crucial in realizing this potential. Five key sectors—electronics, energy, chemicals, automotive, and services— have been identified as vital growth drivers that have the potential to tackle India’s unique challenges and accelerate overall economic growth. Additionally, establishing India as a global technology leader through advancements in AI, quantum technology, and digital manufacturing could also be pivotal. The report appeals to policymakers, industry leaders, and citizens to collaborate towards a shared future of growth, sustainability, and inclusivity and aims to illuminate the path to a "Viksit Bharat" where innovation, resilience, and inclusivity intersect to take India to its just position on the global stage by 2047.

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Key Findings

India is set to transform into a high-income country with a projected GDP of $23–$35 trillion, driven by sustained annual growth of 8%–10%
By 2047, the services sector is expected to contribute 60% of India’s GDP, while manufacturing will account for 32%, both playing a crucial role in economic expansion.
Electronics, energy, chemicals, automotive, and services sectors would act as strategic growth levers due to alignment with global trends and scalability.

In agriculture, advancements such as automated farming and harvesting, precision agriculture, and digitalization will enhance productivity and optimize resource use.
Manufacturing will witness growth through hyper-automation, 3D and 4D additive manufacturing, quantum-driven supply chains, and circular manufacturing, enabling more efficient and sustainable production.
Meanwhile, the services sector will be propelled forward by AI/ML and Generative AI adoption, quantum computing, and Brain-Computer Interfaces, playing a crucial role in advancing automation, decision-making, and customer experiences.

A projected workforce gap of about 50 million people by 2030, necessitates expanded STEM education and targeted skilling initiatives across sectors.
Further, public-private collaboration in AI, green energy, and other critical sectors and enhancing R&D investment as a percentage of GDP could accelerate domestic innovation and reduce dependence on global supply chains.

Additionally, India’s economic vision emphasizes an outward-looking approach, leveraging international partnerships to strengthen its position in global value chains.
Expanding trade through Free Trade Agreements and diversifying exports into emerging markets like Africa and Latin America could reduce reliance on traditional partners and enhance India's global presence.

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