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Tech-powered, innovation-driven: Key imperatives essential for illuminating the path towards a ‘Viksit Bharat’
Tech-powered, innovation-driven: Key imperatives essential for illuminating the path towards a ‘Viksit Bharat’

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In a bid to fulfil the vision of creating a ‘Viksit Bharat’ and attaining a projected GDP of $23–$35 trillion, utilizing India’s demographic dividend and ushering in sectoral transformations are crucial. Further, India has a productivity gap in comparison with its global peers and needs to prioritize efforts for enhancing productivity in high-value-adding sectors. In this regard, tech adoption is critical to potentially improve productivity and achieve this high-growth ambition.

A three-pronged approach can be adopted to scale up technology adoption and productivity in the country. At an individual level, access to technology needs to be scaled up to reduce unit cost of delivery and increase individual productivity. At the business level, a tech-led growth needs to be adapted to increase overall business level productivity. At the government level, enabling access to safe tech and platform for future innovations is essential.

Further, the three key sectors i.e. agriculture, manufacturing and services also need to be reshaped through tech interventions to drive overall productivity in the economy.

Tech trends set to reshape three sectors of the economy

  • Agriculture: The agriculture sector can be reshaped through large-scale adoption of machinery to automate farm operations, potentially improving efficiency, reducing labor and optimizing yields. Further, precision agriculture and digitalization, hydroponics and vertical farming, genetic engineering for resilient crops and sustainable agritech are other key tech trends that can reshape the sector.  
  • Manufacturing: Hyper automation enabled through AI-driven machines and robotics to handle end-to-end complex manufacturing tasks autonomously with limited human intervention can be one key tech intervention that can reshape this sector. Further, 3D and 4D additive manufacturing, quantum learning-led supply chain, industrial metaverse and circular manufacturing are other key tech imperatives in this sector.
  • Services: The services sector can enable transformation through AI integration to accelerate automation, enhance decision-making, and personalize user experiences across industries. AI/ML and generative AI adoption, distributed ledger technology (DLT), advanced communications (6G and beyond), quantum computing, brain-computer interfacing are some of the other tech imperatives in this sector.

Driving innovation is must

Another key imperative is for India to innovate and monetize technology.  This would require identifying and promoting domestic firms in strategic sectors potentially encouraging the structural transformation toward skill intensive and higher productivity sectors. Encouraging research-led innovation by potentially allocating a higher share of GDP for R&D for strategic sectors such as semiconductors, green energy, and quantum tech. Additionally, encouraging states to specialize in sectors based on their comparative advantage (e.g., Karnataka for AI and IT, Gujarat for chemicals, Tamil Nadu for EVs) is also crucial.

Nasscom, in partnership with Bain & Company has released a detailed report outlining a technology roadmap comprising near-term, medium-term and long-term imperatives across 5 key strategic growth sectors (electronics, energy, chemicals, automotive, services); learnings for India from global countries like the US, China, Malaysia, Vietnam, Taiwan, European Union, Australia, Japan, Canada, Brazil, Germany, South Korea and potential focus areas for the government and the private sector.

For deeper insights on the topic, download the report here: https://community.nasscom.in/communities/nasscom-insights/india-2047-transforming-india-tech-driven-economy

 


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Kuhu Singh
Manager, Research

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