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McKinskey: Digital India can lead the GDP to $1 trillion by 2025

McKinskey Global Institute has identified 12 empowering technologies, which could have a great impact on India’s economic growth and efforts to reduce poverty. The new research by MGI analyses 12 technologies ranging from mobile internet to cloud computing to advanced genomics that will add $550 billion to a trillion dollars a year of economic value in India by 2025.

McKinskey

The new report titled as India’s technology opportunity: Transforming work, empowering people has studied the technologies in three segments. The three segments are: firstly, technologies that digitize life and work which incorporates mobile internet, the cloud, digital payments and verifiable digital identity. The second area is of the smart physical systems, which includes IoT, intelligent transportation and distribution system, advanced geographic information system and next generation geonomics. The last area is the technologies of rethinking energy which includes unconventional oil and gas, renewable energy and advanced energy storage.

Speaking about the research, Noshir Kaka, MD McKinskey, India said, “The spread of digital technologies as well as advances in energy and genomics, can be one of the most dominant drivers of productivity in India, redefine how basic services are delivered and contribute to higher living standards for millions of Indians by raising education levels and improving healthcare outcomes.”

In order to completely understand the impact of 12 selected technologies on the Indian economy MGI sized more than 40 application in the sex sectors of economy, which are financial services, education and skills, healthcare, agriculture and food, energy and infrastructure.

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Heena Gupta

A reader at heart, this girl loves to express through writing. Her ears perk up as soon as she senses any tech molecule in the air. With the ability to use and navigate typical technologies she becomes a complete tech enthusiast. This post graduate in Mass Communication lives in the world of gadgets. Fiction, history and cartoons keep her busy in the free time. Her urge to grow mixed with excellent writing skills forces us to have her as a part of our workforce.

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