According to the NITI Aayog report "AI for Viksit Bharat: The Opportunity for Accelerated Economic Growth," artificial intelligence (AI) can significantly boost India's economic growth, potentially adding $500-600 billion to the country's GDP by 2035 through accelerated adoption across industries, and another $280-475 billion through AI-led research and development. This growth could help India achieve its vision of "Viksit Bharat" with an 8% annual growth rate.
The report highlights the potential benefits of AI adoption in various sectors, including financial services, manufacturing, pharmaceuticals, and automotive. In financial services, AI can enable hyper-personalized customer experiences, advanced fraud detection, and more inclusive lending, potentially unlocking $50-55 billion in additional value by 2035. AI-driven productivity gains, predictive maintenance, and intelligent product design in manufacturing could add $85-100 billion.
To achieve this growth, the report emphasizes the need for robust infrastructure, including compute, cloud, and data infrastructure, as well as responsible governance, ethics, and model-risk controls. Industry-academia collaboration, sandboxes, marketplaces, and workforce development are also crucial. AI-focused programs, industry incentives, and sector-specific credentials will be essential for skilling and education.
By harnessing AI's potential, India can pioneer a new model of growth and achieve its ambitious economic goals. The country's ability to leverage AI will be critical in determining its future growth trajectory and realizing the vision of Viksit Bharat.
