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—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.

A focused technology roadmap could be key to enabling this transformation:

• Electronics: AI-enabled chip design, touchless manufacturing, and biodegradable components could boost productivity and reduce electronic waste. These advancements could potentially expand domestic production, reduce import dependency, and create about 20 million jobs, positioning India as a global leader with around 25% share in electronics manufacturing.
• Energy: Smart grids could help optimize energy distribution, while decentralized systems like microgrids could enhance accessibility. Green hydrogen and advanced nuclear technologies could potentially drive carbon-neutral processes, diversify energy sources, and position India as a renewable energy leader.
• Chemicals: AI-driven molecular design and digital twins will help enhance R&D efficiency and accelerate innovation. Bio-based production and green practices could potentially enhance sustainability and export competitiveness, targeting around a 10% share in global value chains, particularly in specialty chemicals.
• Automotive: Electrification is likely to be propelled by advanced electric vehicle (EV) batteries, connected software, and autonomous technologies. Investments in EV manufacturing clusters and vehicle-to-everything (V2X) communication will potentially establish India as a global hub for smart mobility solutions.
• Services: AI, blockchain, and the Internet of Things (IoT) could transform industries like banking, healthcare, and retail. Cloud computing and generative AI could potentially bolster India’s IT ecosystem, while high-value service clusters in Tier 2 and Tier 3 cities could potentially foster inclusivity and global leadership in digital transformation.

India’s transformation is not without challenges. Infrastructure deficits in transportation and the urban-rural digital divide require extensive investment. A projected workforce skill gap of about 50 million people by 2030 potentially necessitates expanded STEM education and targeted skilling initiatives. Reliance on imports for critical components underscores the importance of focus areas like backward integration and local manufacturing, while climate commitments demand transition to a green economy.

Addressing these challenges requires a tech-enabled, multi-pronged approach involving domestic and international efforts.

• Domestically: Public-private collaboration may accelerate innovation in critical sectors like AI and green energy. Increasing R&D investment as a percentage of GDP could potentially foster domestic innovation and reduce India’s dependence on global supply chains. Workforce inclusivity, particularly gender equity, can likely be boosted with tech interventions to unlock untapped economic potential and support sustainable growth.
• Internationally: Strengthening India’s position in global value chains through Free Trade Agreements (FTAs) and export diversification into emerging markets like Africa and Latin America could potentially reduce reliance on traditional trade partners. Collaborative R&D in areas such as quantum technology and advanced materials may bolster India’s technological edge.

By aligning sectoral growth with sustainability and inclusivity, India can realize its vision of an approximately $23–$35 trillion economy by 2047. This transformation could potentially elevate India’s global standing, improve the quality of life for residents, and establish the nation as a leader across economic, technological, and social dimensions.

About Nasscom

Nasscom represents the voice of over $250 billion technology industry in India with the vision to establish the nation as the world’s leading technology ecosystem. Boasting a diverse and influential community of over 3,000 member companies, our network spans the entire spectrum of the industry from DeepTech and AI start-ups to multinationals and from products to services, global capability centres to engineering firms. Guided by our vision, our strategic imperatives are to accelerate skilling at scale for future-ready talent, strengthen the innovation quotient across industry verticals, create new market opportunities—both international and domestic, drive policy advocacy to advance innovation and ease of doing business, and build the industry narrative with a focus on trust and innovation. And, in everything we do, we will continue to champion the need for diversity and equal opportunity.