Summary:

Despite global financial concerns, India is poised to outperform other nations, fueled by a robust consumer market, thriving start-ups, and a talented workforce. India boasts the world's largest working-age population, with Gen Z and millennials accounting for over 52% of the total. The country's technology industry, including AI advancements and digital payment systems like UPI, highlights India's role in driving innovation through effective public-private partnerships.

Emerging technologies such as AI and generative AI are expected to increase India's productivity. Research suggests generative AI could boost the economy by $675 billion (₹57,28,725 crore) by 2038. The IndiaAI mission encourages the adoption, consumption, and widespread skilling of AI. With AI predicted to contribute 31% to working hours by 2030, India must prioritize skilling, ethical AI development, and industry collaboration to ensure responsible growth and maintain a competitive edge.

Source: IBEF

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