Twelve empowering technologies, from mobile Internet to cloud computing to advanced genomics, have the potential to add USD 550 billion to 1 trillion a year of economic value in India by 2025, McKinsey Global Institute said today.
MGI, in its report, assessed more than 100 technologies that are advancing rapidly around the world and identified 12 that are likely to have the most impact on addressing India's challenges.
The report grouped the 12 technologies into three areas -- ones that digitise life and work, smart physical systems and those for rethinking energy. Used together, these technologies could account for 20-30 per cent of India's GDP growth between 2012 and 2025 and help millions achieve a better quality of life, the report said.
"The spread of digital technologies, as well as advances in energy and genomics, can be one of the most dominant drivers of productivity in India, redefine how basic services are delivered, and contribute to higher living standards for millions of Indians by raising education levels and improving healthcare outcomes," McKinsey.