Emphasis on education, technology vital for India to become USD 7-8 trillion economy by 2030

New Delhi [India] June 9 (ANI): India's aspiration to become a USD 7-8 trillion economy by 2030 requires emphasis on advancements in education and technology, say experts at the recently concluded Indian Global Innovation Connect (IGIC) 2025 in Bengaluru.

Technology adoption, especially technologies like GIS (geographic information system), emerged as a pivotal driver, with discussions centred on AI integration, digital transformation, and advanced manufacturing. This technological push, however, is inextricably linked to the quality and relevance of education, the experts said while addressing policymakers, industry leaders and economists.

"GIS and AI are coming together in powerful ways to support India's vision of becoming a $7-8 trillion economy. Whether it's bringing rural land into productive use through initiatives like SVAMITVA, enabling smarter infrastructure monitoring, or driving efficiency in agriculture and crop planning, these technologies are already creating real impact," said Agendra Kumar, Managing Director, Esri India.

The GIS landscape in India has been undergoing significant transformation, with new-age technologies opening up tremendous possibilities across various sectors. Globally, the rapidly expanding GIS market is projected to reach a massive USD 24.61 billion by 2034, demonstrating a compounded annual growth rate of 8.71 per cent over the next decade, according to a report by Precedence Research.
The speakers at the event underscored the urgent necessity for a strategic overhaul of India's existing economic frameworks and the rural development and industrial expansion was also considered as a vital means to acheive $7-8 trillion economy by 2030.
Speaking on India's potential, Claude Smadja, Chairman of Smadja & Smadja Strategic Advisory and former MD of the World Economic Forum, said, "India has the potential to become a 7-8 trillion-dollar economy, but this will require clear focus and timely execution. No country has achieved sustained growth without a strong industrial base, and India must increase its industry share while also investing more in R&D, particularly from the private sector."

Industrial expansion, particularly in sectors such as clean energy, defence technology, and advanced manufacturing, was also identified as pivotal for fostering economic resilience and scaling job creation. However, the recurring theme was that the skilled workforce required for these sectors will largely emanate from a responsive and forward-looking educational system.

Additonally, the speakers at the event underscored the urgent need for a strategic overhaul of India's existing economic frameworks, and the rural development and industrial expansion were also considered a vital means to achieve a USD 7-8 trillion economy by 2030.

As India strives to become a developed nation by 2047, GIS is expected to play a major role in facilitating the country's ambitious plans for urbanisation and citizen well-being. (ANI)