By 2021, digital transformation will add an estimated USD 154 billion to India’s GDP, and increase the growth rate by 1 per cent annually, according to a new business study released. The research, ‘Unlocking the Economic Impact of Digital Transformation in Asia Pacific ‘, was produced by Microsoft in partnership with IDC Asia/Pacific.
The study predicts a dramatic acceleration in the pace of digital transformation across India and Asia Pacific’s economies. In 2017, about 4 per cent of India’s GDP 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).
“India is clearly on the digital transformation fast track. Within the next four years, it is estimated that nearly 60 per cent of India’s GDP will have a strong connection to the digital transformation trends,” said Anant Maheshwari, President, Microsoft India. “Organisations are increasingly deploying emerging technologies such as artificial intelligence, and that will accelerate digital transformation led growth even further.”