Can AI really add $550 billion to India's economy? Experts debate
India Today
India is poised for significant AI-driven economic growth, with projections estimating a USD 550 billion boost by 2035. Industry leaders discuss the need for balanced optimism, innovation, and supportive policies to realise AI's potential in the country fully.
Is artificial intelligence set to pump USD 550 billion into five key sectors of India’s economy by 2035, or is the country getting carried away by numbers too big to measure?
That question framed a sharp discussion at the India Today AI Summit in Delhi, where PwC India released its AI Edge for Viksit Bharat report projecting the USD 550 billion boost. Business leaders and technology executives debated whether the figure reflects tangible potential or premature optimism.
“It’s a combination of hype and reality,” said President & Chief Executive Officer of the US- India Strategic Partnership Forum, Mukesh Aghi, responding to the projection. “It’s too early to see where the transformation is going to come in.”
He pointed to visible shifts in IT and BPO, where AI is already altering workflows. But in areas such as drug discovery, healthcare and energy, he cautioned that outcomes remain uncertain. “USD 550 billion is a large number and I think we have to be very cautious about it,” he said, urging policymakers and businesses not to “get into the hype”.
At the same time, Aghi warned that ignoring AI would be costly. “If you don’t leverage it, if you don’t make it accessible, affordable and scalable, that is going to harm the economy and the society and the country.”
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