‘Digital transformation to add $154 billion to India’s GDP’

Digital transformation will add an estimated $154 billion to India’s GDP by 2021 and increase the growth rate by 1% every year, according to a joint study by Microsoft and IDC Asia Pacific. In 2017, about 4% of India’s GDP was derived from digital products and services created through digital technologies , the report titled ‘Unlocking the Economic Impact of Digital Transformation in Asia Pacific’, stated.

“India is clearly on the digital transformation fast track,” said Anant Maheshwari, president, 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. Organisations are increasingly deploying emerging technologies such as artificial intelligence and that will accelerate digital transformation led growth even further.”

The survey was conducted among 1,560 business decision makers in mid and large-sized companies across 15 economies in the Asia Pacific region.