India's Tech-Driven Economy to Reach $35 Trillion by 2047, Report Reveals

A new report by Nasscom and Bain & Company outlines India's ambitious roadmap to become a high-income, tech-driven economy by 2047. The study projects a GDP of $23-35 trillion, driven by 8-10% annual growth across key sectors like electronics, energy, and services. The electronics sector alone is expected to contribute 8-10% to GDP, up from 3% currently. The vision hinges on technological advancements, workforce development, and a shift towards an export-driven model. However, challenges remain, including a projected workforce shortfall of 50 million by 2030, emphasizing the need for enhanced STEM education and skill development programs.

 

Sources: Bain & Company, NASSCOM, Economic Times