India @2047: Making India a Tech-Driven Economy, NASSCOM Announcement

Important points of the report

Sustained GDP Growth: Between 8% and 10%, with acceleration in a number of areas, such as a workforce that is diverse and driven by exports.

Sectoral Shift: India's economy may grow at a rate of 10% driven by manufacturing and services, while agriculture may only grow at a rate of 6%.

Renewable Energy: India is expected to increase its share of renewable energy from 24% in 2023 to 70% in 2047.

Important Enabling Industries

• Electronics: near-term AI-driven product simulation, long-term design of quantum computers and neuromorphic chips inspired by the brain, etc.
• Investments in microgrids, small modular reactors (SMRs), etc. are the primary source of energy.
• Chemicals: AI-driven molecular design, specially formulated products according to client requirements, etc.
• China, for instance, has made sure that manufacturing resources are consolidated into chemical parks.
• Automotive: Solid state batteries, electrification, and the transition to electric vehicles, among other things.
• Services: In important fields like banking and finance (blockchain-enabled transactions); deep telepresence therapy for health; etc.

Building export-oriented infrastructure and pursuing agreements with international organizations such as the EU, ASEAN, etc. are among the government's priorities. Businesses should invest in creating a foundational layer that is integrated with the newest technology. For instance, installing the newest technological systems for real-time data on the factory floor.