May 2018 smartGOV_eMagazine_May2018 - Page 20

Smart Governance DigitalTransformation India GDP to rise US$154 Billion by 2021 B y 2021, digital transformation will add an estimated US$154 billion to India’s GDP, and increase the growth rate by 1.0% annually, according to a new business study released. The research, “Unlocking the Economic Impact of Digital Transformation in Asia Pacific”, was produced by Microsoft in partnership with IDC Asia/Pacific. The study predicts a dramatic acceleration in the pace of digital transformation across India and Asia Pacific’s economies. In 2017, about 4% 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). “Organizations are increasingly deploying emerging technologies such as artificial intelligence, and that will accelerate digital transformation led growth even further.” The survey conducted with 1,560 business decision makers in mid and large-sized organizations across 15 economies in the region highlights 20 | May 2018 | www.smartgovernance.in