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Data, AI can add $ 500 billion to India’s GDP by 2025

23/06/2022 at 2:18 PM

New Delhi, June 23: Data and Artificial Intelligence (AI) could potentially add $ 500 billion to India’s gross domestic product (GDP) by 2025, a new Nasscom report showed on Thursday.

The AI adoption in four key sectors – BFSI, consumer packaged goods (CPG) and retail, healthcare, and industrials/automotive – can contribute 60 per cent of the total $ 500 billion opportunity, according to “AI Adoption Index” Nasscom, EY and Microsoft, EXL and Capgemini.

For India to achieve its $1 trillion GDP goal by FY 2026-2027, it needs to have a strong correlation to the maturity of AI adoption, the report noted.

“The pandemic has made it absolutely time critical for organisations to move from data & technology silos to building specialised AI capabilities at scale across sectors combined with a structured data utilisation strategy,” said Debjani Ghosh, President, Nasscom.

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