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Artificial intelligence (AI) could contribute more than USD 500 billion to India's economy by 2030, according to a joint study by IBM and IndiaAI, which also said businesses increasingly see AI as a key driver of the country's economic growth.
The report, 'From promise to power: How AI is redefining India's economic future', said that four in five business leaders believe AI investments will directly influence India's GDP growth, while 73 per cent expect India to emerge as a leading global AI nation by 2030. The study, however, highlighted a major execution gap, with 72 per cent of surveyed organisations acknowledging that they are behind global peers in AI adoption. It said bridging this divide "will be pivotal in determining India's leadership in the global AI economy." Speaking at the launch of the report, Ministry of Electronics & Information Technology (MeitY) Secretary S Krishnan said India was now shaping the global AI conversation. "India is no longer just participating in the global AI conversation, we are helping shape it. Our vision is clear. AI must evolve as an extension of our people's aspirations, driving inclusive growth and national progress," he said. "Guided by our vision of Viksit Bharat, we are advancing a human centric approach to AI rooted in trust, ethics, and national sovereignty". According to the report, 74 per cent of surveyed executives said control over where data resides is essential, reflecting growing demand for sovereign and hybrid AI systems in India. The study said organisations are increasingly adopting hybrid models to balance "performance, cost, and control." The report also pointed to major infrastructure and data challenges. Around 57 per cent of respondents cited uneven data quality as a hurdle, while 77 per cent flagged the lack of "accessible, affordable, and secure cloud infrastructure" as a major barrier to AI readiness. On the talent front, the study said only about 30 per cent of employees currently possess the AI literacy levels businesses require, but this figure would need to rise to nearly 57 per cent by 2030. It estimated that India would need more than 350 million AI-skilled talent by the end of the decade. IBM India & South Asia Managing Director Sandip Patel said AI could become a major growth engine for the country. "AI has the potential to become one of the most powerful growth engines for India's economy," Patel said. "With the right investments in skills, governance, and infrastructure, India can translate AI ambition into sustained economic impact." The study further noted that only 15 per cent of surveyed organisations are currently scaling AI through "significant cross-functional investments", while the remaining 85 per cent are still at the pilot stage. It added that 68 per cent of enterprises cited gaps in AI governance as a barrier to scaling AI, while an equal proportion said India needs an "ecosystem-oriented approach" to AI adoption. The report surveyed 1,500 Indian executives across industries, including CEOs, CTOs, Chief AI Officers, Chief Data Officers, strategy heads and government officials involved in AI and cloud strategies. (ANI)
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