Study: Digital Transformation to Begin Adding $150 Billion to Indian GDP by 2021 (Photo credti: Glavo / Pixabay)

Study: Digital Transformation to Begin Adding $150 Billion to Indian GDP by 2021

Staggering new numbers reveal the torrid growth ahead for technology in India, where digital transformation will begin adding more than $150 billion to the nation’s GDP each year by 2021, pushing overall economic expansion by an estimated extra 1%.

Along with greater use of today’s leading digital tools, the country will increasingly adopt technologies based upon artificial intelligence, cognitive services, automation, robotics, and virtual/augmented reality, according to new report produced  jointly by Microsoft and the International Data Corporation (IDC), “Unlocking the Economic Impact of Digital Transformation in Asia-Pacific.”

“India is clearly on the digital transformation fast track. Within the next four years, it is estimated that nearly 60% of India’s GDP will have a strong connection to the digital transformation trends.
– Anant Maheshwari, president of Microsoft India

“India is clearly on the digital transformation fast track,” said Anant Maheshwari, president of Microsoft India. “Within the next four years, it is estimated that nearly 60% of India’s GDP will have a strong connection to the digital transformation trends. Organizations are increasingly deploying emerging technologies such as artificial intelligence, and that will accelerate digital transformation led growth even further.”

This 60% figure is a dramatic rise for the 4% of GDP that, in 2017, was “derived from digital products and services created directly through the use of digital technologies, such as mobility, cloud, Internet of Things (IoT), and artificial intelligence (AI),” according to the research.

Such pronouncements align with lofty predictions by robotic process automation (RPA) provider UiPath, which has predicted that the RPA sector alone will create some 200,000 jobs in India by 2021.

“India is reaping the benefits of a new genre of jobs created from RPA,” said  Dines, CEO and co-founder of UiPath. “The Indian mind is apt for this technology. Indians have the right ability for workarounds and out-of-the-box thinking that works well for RPA.”

Overall, the IDC/Microsoft study states that some 90% of Indian organizations are now undergoing some level of digital transformation, leading IDC and Microsoft to conclude that the current leaders and early adopters will gain greater benefits than the laggard companies that are slow on the uptake.

READ MORE: UiPath: RPA Sector Will Create 200,000 Jobs in India by 2021

“There is a pressing need for organizations to fully capitalize on the potential value of digital transformation in the next few years,” said Anil Bhansali, managing director of Microsoft India. “To do so, organizations need to invest in building their ecosystem — from employees to customers to partners — across their value chain by gaining new insights through new data sources and incorporating digitization in their products and services.”

(Photo credti: Glavo / Pixabay)

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