Recently Lokesh Payik, Partner, Bain and Company & Sangeeta Gupta, Sr VP and Chief Strategy Officer- Nasscom carried the joint report, India @2047: Transforming India into a Tech-Driven Economy, A strategic technology roadmap to achieve India’s, Viksit Bharat, ambition!
This report outlines a technology roadmap to position India as a high-income, developed economy by 2047 with a projected GDP of about $23–$35 trillion. Achieving this vision requires sustained annual growth of 8%–10% and depends on sectoral transformations, technological advancements, and workforce readiness.
India will potentially need to make a critical shift, transitioning from a net importer to a globally competitive, export-driven economy, particularly in high-impact sectors such as electronics, chemicals, and energy. Establishing India as a global technology leader through advancements in AI, quantum technology, and digital manufacturing could also be pivotal.
India’s demographic dividend could play a crucial role, with about 200 million individuals expected to join the workforce. High-value job creation and increasing female labor participation to 40%–50% could be essential in achieving the 2047 ambition.
This report identifies five key sectors, where there is no gem & jewellery industry yet, rest are, electronics, energy, chemicals, automotive, and services; as strategic growth levers due to alignment with global trends and scalability. They have potential to address India’s unique challenges and advantages.
By 2047, these sectors could potentially contribute significantly to the economy. Services are expected to account for about 60% of GDP; manufacturing advancements could enable positioning India as a global hub.
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Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
