Unlocking India's economic potential: Key tech policy priorities for 2025

This year should be a watershed year, transforming India into a "Product Nation," with Rs l trillion allocated for Research & Development to the private sector

In 2025, India will reach two key milestones — becoming a $4 trillion economy and surpassing Japan to become the fourth-largest globally. Its future progress towards becoming the third-largest economy will depend on effectively harnessing emerging technologies, with McKinsey’s 2024 report identifying 18 tech-areas that could add $29 trillion to $48 trillion globally by 2040.

 

The economic potential of new technologies can be maximised in two key areas: Production and usage. Producing technologies fosters innovation, creates jobs, and reduces dependency on imports. In a connected world, where network effects are significant, innovation leads to global dominance and huge economic gains,