India’s Viksit Bharat vision calls for the country to become a developed economy by 2047. A report by NASSCOM and Bain & Company makes a number of recommendations on how the nation might accomplish this goal.
With an emphasis on the electronics and services industries, the paper, India @2047: Transforming India into a Tech-Driven Economy, provides a strategic plan. This program is a component of India’s larger goal to develop a tech-driven economy and reach a GDP of $23–35 trillion.
The report highlights several technology advancements that will shape the future of the electronics sector:
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- AI-enabled R&D and fab design.
- Low-power electronics.
- Biodegradable components.
- Flexible and transparent displays.
- Touchless fabrication.
According to the research, these developments are essential to establishing India as a world leader in electronics manufacturing.
Challenges and growth strategies
Despite the promising outlook, the report also identifies several challenges:
- Supply chain disruptions and component shortages.
- Inadequate infrastructure and manufacturing capabilities.
- Dependence on imports.
- Regulatory and compliance challenges.
To address these, the report suggests potential levers such as smart factories and generative AI (GenAI) for infrastructure development. “Accelerating domestic production and increasing participation in the global value chain are essential for growth,” it states.
Also read: Viksit Workforce for a Viksit Bharat
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