PwC India Unveils Transformative AI Framework to Drive $550 Billion Economic Growth by 2035
PwC India has launched a groundbreaking artificial intelligence framework titled AI Edge for Viksit Bharat, projecting an economic impact of USD 550 billion by 2035 across five critical sectors. The announcement was made at the World Economic Forum Annual Meeting, positioning India as a potential global benchmark for equitable and transformative AI deployment in emerging economies.
Nation-Building Through Artificial Intelligence
PwC India Chairperson Sanjeev Krishan emphasized that AI is more than a technological leap; it's a nation-building force. He highlighted the framework's focus on reimagining growth through a people-first lens, beyond mere GDP metrics. By investing in infrastructure, talent, and governance, we can ensure that innovation and equitable development move hand in hand. This is how we shape a Viksit Bharat that leads the world, Krishan added.
Sectoral Growth Projections and Economic Modelling
According to PwC's economic modelling, AI is poised to drive significant sectoral growth with the following contributions:
- Agriculture: 14% growth through boosted crop productivity and reduced waste
- Education: 28.5% growth with improved school governance
- Energy Utilities: 40.5% growth by cutting power theft
- Healthcare: 33.8% growth through accelerated disease detection
- Manufacturing: 19.2% growth via enhanced quality control
Government and Industry Perspectives on AI Adoption
Maharashtra Chief Minister Devendra Fadnavis, during the report unveiling, stated that AI is revolutionising all spheres of life, and we are embedding it in governance to democratise its impact. He noted India's strong digital infrastructure foundation and readiness to leverage data for deeper digitization.
Bajaj Finserv Managing Director Sanjiv Bajaj commented on the broader implications, saying transformative technologies like AI bring both disruption and opportunity. He emphasized that while AI promises significant productivity gains, it comes with greater responsibility. While we forgive human mistakes, we must hold AI to a higher standard. By reducing bureaucracy through AI, we can free public servants to focus on more impactful work, advancing the inclusive growth vision of AI Edge for Viksit Bharat, Bajaj added.
India's Position as a Global AI Benchmark
The PwC report underscores India's unique position to demonstrate how emerging economies can harness artificial intelligence in ways that are both transformative and equitable. The framework aims to create a model where technological advancement directly contributes to inclusive development and sustainable economic progress.
