 "AI technology, artificial intelligence, ML")
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,
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
