Digital transformation to add $154bn to India’s GDP by 2021: Microsoft

New Delhi, April 11: Digital transformation will add close to $154 billion to India’s GDP by 2021 and increase the growth rate by one per cent annually, software giant Microsoft said on Wednesday.
According to a joint report by Microsoft and IDC Asia/Pacifc, in 2017, about four per cent of India’s GDP was derived from digital products and services created directly through the use of digital technologies such as mobility, Cloud, Internet of Things (IoT) and Artificial Intelligence (AI). ”India is clearly on the fast-track towards digital transformation. Within the next four years, it is estimated that nearly 60 per cent of India’s GDP will have a strong connection to the digital transformation trends,” Ant Maheshwari, President, Microsoft India, told reporters here.
”Organisations are increasingly deploying emerging technologies such as AI that will accelerate digital transformation led growth even further,” Maheshwari added. The survey took into account 1,560 business decision makers in mid and large-sized organisations across 15 economies in the region. According to the survey, organisations are seeing significant and tangible improvements from their digital transformation efforts across these benefits in the range of 11-14 per cent. (IANS)